Problem related to fair market value

Reference no: EM13120709

Rob was given a residence in 2010. 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 $188,000. What is Rob's basis for gain?

a) $140,000.

b) $143,209.

c) $150,000.

d) $200,000.

e) None of the above.

Reference no: EM13120709

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