Brantley received shares of Cranston Corporation stock from his uncle as a gift on July when the stock had a $ fair market value FMV His uncle paid $ for the stock on April The taxable gift was $ because his uncle made another gift to Brantley for $ in January and used the annual exclusion. The uncle paid a gift tax of $ Without considering the transactions below, Brantley's AGI is $ in No other transactions involving capital assets occur during the year.
Read the requirement.
tabletableAGI prior tosale of stocktableGain loss onsale of stockAGIa He sells the stock on October for $b He sells the stock on October for $c He sells the stock on December for $
