Calculate a gain on the sale of the gifted property


Problem: If the fair market value (FMV) of a gift on the date it's given is less than the donor's adjusted basis, what is the basis used to calculate a gain on the sale of the gifted property?

  • The donor's adjusted basis on the date of the gift.
  • The donor's purchase price.
  • The lower of the donor's adjusted basis or the FMV on the date of the gift.
  • The FMV of the property on the date of the original purchase.

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Other Subject: Calculate a gain on the sale of the gifted property
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