Rob Was Given a Residence in 2012

question 11

Multiple Choice

Rob was given a residence in 2012.At the time of the gift, the residence had a fair market value of $200,000, and its adjusted basis to the donor was $140,000.The donor paid a gift tax of $10,000 on the taxable gift of $187,000.What is Rob's basis for gain?

• A)$140,000.
• B)$143,209.
• C)$150,000.
• D)$200,000.
• E)None of the above.

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Definitions:

Criminal Defendant

An individual or entity charged with a criminal offense and facing prosecution.

Right To Counsel

The guaranteed right of a defendant in a criminal trial to have the assistance of counsel (a lawyer), and if the defendant cannot afford one, the court must appoint an attorney.

Murdering

The act of unlawfully killing another human being with malice aforethought.

Accused

A person or entity charged with a crime or legal infraction.