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Unformatted text preview: Gain Basis Loss Basis + Donors basis Fair market value Adjustment for at date of gift Gift Tax Paid Unrealized appreciation X Gift Tax Paid Taxable Gift (fair market value annual gift exclusion) What is the Holding Period in the hands of the Donee? Gain Loss Carry-over holding period Holding period begins on the date of the gift If the asset is used for business or income producing purposes, the basis used for depreciation is the Gain Basis. 1...
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This note was uploaded on 12/22/2010 for the course BUSACC 1242 taught by Professor Staff during the Spring '10 term at Pittsburgh.
- Spring '10