Curt Owns the Following Assets Which He Gives to His

question 103

Multiple Choice

Curt owns the following assets which he gives to his daughter Carla. No gift tax results. Both items have been held by Curt as an investment for more than one year. If Carla immediately sells these assets for $1 million ($400,000 + $600,000) , she recognizes:

• A) No gain or loss.
• B) A $200,000 LTCG and no loss.
• C) A $200,000 STCG and $200,000 STCL.
• D) A $200,000 STCG and no loss.
• E) A $200,000 LTCG and $200,000 LTCL.

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Definitions:

Venous Disease

A condition that affects the veins, causing issues like varicose veins, venous insufficiency, or deep vein thrombosis.

Bed Rest

a medical treatment involving prolonged rest in bed, often prescribed to promote healing or recovery.

Anticoagulant Medication

Drugs that help prevent blood clots from forming, reducing the risk of stroke and heart attack.

Venous Obstruction

Venous obstruction is a condition where flow through the veins is impeded, leading to swelling and other symptoms.