Several years ago Doug invested $43,000 in stock. This year he gave his daughter Tina...

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Accounting

Several years ago Doug invested $43,000 in stock. This year he gave his daughter Tina the stock on a day it was valued at $39,700. She
promptly sold it for $37,300. Assume Doug is not marrled and does not support Tina, who is 28.
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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