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David gave property with a basis of $1,330 to Hannah when the property had a...

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Accounting

David gave property with a basis of $1,330 to Hannah when the property had a FMV of $1,000 and paid gift taxes of $80. If Hannah later sells the property for $1,400, Hannah's basis (to determine gain) in the property immediately before the sale is (Points : 4)

$1,000. $1,080. $1,330. $1,410.

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