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Gain
An increase in the value of an investment or asset.
Donor's Adjusted Basis
The value used for tax purposes to determine the gain or loss when property is given as a gift, generally the cost basis of the donor at the time of the gift.
Fair Market Value
The price that property would sell for on the open market, between a willing buyer and a willing seller each having reasonable knowledge of all pertinent facts.
Gift
A transfer of property or assets from one individual to another without the expectation of payment or anything in return.
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