CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN: 9780357110362
Author: Murphy
Publisher: CENGAGE L
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David decided to give Blake a machine for use in Blake’s business. David originally paid $38,000 for the machine. David took $9,500 in depreciation on the machine before giving it to Blake. The FMV at the time of the gift was $40,000. Blake paid $250 to ship the machine to his location. What is Blake’s
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