In Addition to Other Gifts, Megan Made a Gift of Stock

question 83

Multiple Choice

In addition to other gifts, Megan made a gift of stock to Jeri in 1975.Megan had purchased the stock in 1973 for $7,500.At the time of the gift, the stock was worth $20,000.If Megan paid $850 of gift tax on the transaction in 1975, what is Jeri's gain basis for the stock?

• A)$7,500.
• B)$8,350.
• C)$9,017.
• D)$20,000.
• E)None of the above.

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