During the Current Year,Don's Aunt Natalie Gave Him a House

question 45

Multiple Choice

During the current year,Don's aunt Natalie gave him a house.At the time of the gift,the house had a FMV of $145,000 and his aunt's adjusted basis was $134,000.After deducting the annual exclusion,the amount of the gift was $130,000.His aunt paid a gift tax of $20,000 on the house.What is Don's basis in the house for purposes of determining gain?

• A)$130,000
• B)$134,000
• C)$135,692
• D)$145,000

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Definitions:

Statistical Software

Computer applications designed to perform statistical analysis, including descriptive statistics, inferential statistics, data modeling, and graphical representation of data.

SAS Proficiency

The level of skill and knowledge in using the Statistical Analysis System (SAS) software for data analysis.

GAISE

Guidelines for Assessment and Instruction in Statistics Education; a set of recommendations for teaching statistics effectively.

Statistical Software

Computer programs designed to perform statistical analysis, data manipulation, and visualization to support decision-making and research.