The fair market value at the time of the gift was 1400
Question - Lloyd gifted property to Louise. Lloyd's basis in the property was $1,200. The fair market value at the time of the gift was $1,400. Louise sold the property for $2,500. What was the amount of Louise's gain on the disposition?
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question - lloyd gifted property to louise lloyds basis in the property was 1200 the fair market value at the time of
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