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9966 [12]
2 years ago
15

Ben and Miranda recently sold some land they owned for $150,000. They received the land and a check equal to the amount of the t

hen-current annual exclusion five years ago as a wedding gift from Ben's Aunt Addison. They also received a check equal to the annual exclusion on their wedding date. Aunt Addison purchased the land many years ago when the property was worth $20,000. At the date of the gift, the property was worth $100,000 and Aunt Addison paid $47,000 in gift tax. What is the long term capital gain on the sale of the property? Group of answer choices
a. $130,000.
b. $50,000.
c. $42,400.
d. $92,400.
Business
1 answer:
natima [27]2 years ago
7 0
D is the correct answer
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