Vincent deducts the $200 on his income tax return, even if he is subject to the alternative minimum tax.

Vincent deducts the $200 on his income tax return, even if he is subject to the alternative minimum

tax.

The $200 is deductible only in computing Adrienne’s taxable estate.Adrienne’s executor deducts the $200 only on Adrienne’s last income tax return.

 
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$358,000 if the gift was made after 1976 $328,000 if the gift was made after 1976 />$313,000 if the gift was made before 1977

$358,000 if the gift was made after 1976$328,000 if the gift was made after 1976

/>

$313,000 if the gift was made before 1977

 
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$300 $100 $0

$300$100$0

 
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Neither Martin nor Robert has any recognized gain or loss.Martin has no recognized loss

Neither Martin nor Robert has any recognized gain or loss.Martin has no recognized loss and

Robert has a recognized gain of $30,000.

Confection Corporation has a basis in the land of $45,000.

 
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