Business, 22.07.2019 23:10 aisatubrodie4626

Ivanka and jared are divorced in the current year. as part of the divorce settlement, ivanka transfers a plot of land in long island, ny to jared. ivanka's basis in the property was $20,000 and the market value of the property was $250,000 when transferred. jared holds the property through the end of the year and in hopes of building a residence on it. how much income do ivanka and jared recognize in the current year?

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