During the Current Year,don's Aunt Natalie Gave Him a House.at

Question 60
Multiple Choice

During the current year,Don's aunt Natalie gave him a house.At the time of the gift,the house had a FMV of $144,000 and his aunt's adjusted basis was $133,000.After deducting the annual exclusion,the amount of the gift was $130,000.His aunt paid a gift tax of $20,000 on the house.What is Don's basis in the house for purposes of determining gain? A)$130,000 B)$133,000 C)$134,692 D)$144,000