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Business, 11.08.2021 20:50 cathysilvestro

Several years ago Doug invested $27,250 in stock. This year he gave his daughter Tina the stock on a day it was valued at $24,500. She promptly sold it for $23,450. Assume Doug is not married and does not support Tina, who is 28. Required:
a. Determine the amount of the taxable gift.
b. Calculate the amount of taxable gain or loss, if any, for Tina.

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Several years ago Doug invested $27,250 in stock. This year he gave his daughter Tina the stock on a...
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