Welcome to our Donee’s Basis and Gain or Loss Calculator. This tool is designed to help a donee determine the basis of property received as a gift and the gain or loss upon the donee's sale of the property.
To use the calculator, simply enter the following information:
Donor’s Adjusted Basis: The original cost of the property plus any adjustments made by the donor.
Fair Market Value (FMV): The estimated value of the property at the time of the gift.
Selling Price: The price at which the donee is selling the property.
Adjustments: Any additional costs or deductions associated with the property while in the donee's possession.
Gift Tax Paid: If applicable, the amount of gift tax paid on the net increase in value of the property.
Once you’ve entered all the required data, click the “Calculate Donee's Basis and Gain or Loss” button to see your results. The calculator will provide you with the donee’s basis and the gain or loss upon the donee's sale of the property.
We wrote this blog post and created this calculator with the help of an AI assistant, Microsoft Copilot, an advanced algorithms and machine learning technology.
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Per our disclaimer, this tool is for information only, is not a substitute for working with a trusted tax advisor, and should not be relied upon when preparing taxes.
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