Determine the amount of the taxable gift

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Reference no: EM13764510

Several years ago Doug invested $21,750 in stock. This year he gave his daughter Tina the stock on a day it was valued at $20,200. She promptly sold it for $18,400. Assume Doug is not married and does not support Tina, who is 28.

a. Determine the amount of the taxable gift, if any, for Tina.

Reference no: EM13764510

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