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53. Under the terms of a divorce decree executed May 1, 2010,

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Under the terms of a divorce decree executed May 1, 2010, Ron transferred a house worth $650,000 to his ex-wife, Linda, and was to make alimony payments of $3,000 per month. The property has a tax basis to Rob of $300,000.

a. How much of this must be reported on Linda’s tax return?
b. Of that amount, how much is taxable gain or loss that Linda must recognize related to the transfer of the house?
Fundamentals of Taxation 2011 , Cruz, Dechamps, Niswander, Prendergast, Schisler, and Trone
Submitted: 5 years ago.
Category: Homework
Expert:  Ellen replied 5 years ago.

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