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Olivers basis in the stock was 50000 what is the amount of

Question - Oliver gave his wife $5,100,000 worth of publicly traded stock in August 2011, outright. Oliver's basis in the stock was $50,000. What is the amount of the taxable gift for federal gift tax purposes? (Oliver made no other gifts to anyone in 2011).

A. 0.

B. $87,000.

C. $100,000.

D. $5,087,000.

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Accounting Basics: Olivers basis in the stock was 50000 what is the amount of

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Accounting Basics: Olivers basis in the stock was 50000 what is the amount of

Reference No:- TGS02619903

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