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What are the son and daughter bases in the stock received

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Reference no: EM131819961

Question - Hobbes gave his son ABC stock valued at $100,000 that he purchased for $60,000 and his daughter EFG stock valued at $100,000 that he purchased for $250,000. Hobbes paid $30,000 in gift taxes on each of these gifts. What are the son's and daughter's bases in the stock received?

Reference no: EM131819961

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