In 2012, Bob Brown's Aunt Barbara Gave Him a House

question 54

Multiple Choice

In 2012, Bob Brown's aunt Barbara gave him a house. At the time of the gift, the house had a fair market value of $193,000, the taxable gift was $180,000, and his aunt's adjusted basis was $73,000. His aunt paid a gift tax of $30,000 on the house. What is Bob's basis in the house for purposes of determining gain?

• A) $73,000
• B) $93,000
• C) $180,000
• D) $193,000

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