Voytek transfers land worth $200,000 with an adjusted basis of $17,000 to his wife Gosha for her birthday. The land was purchased 3 years ago. Assume no gift tax was paid on the transfer. a) Does...

1. Voytek transfers land worth $200,000 with an adjusted basis of $17,000 to his wife Gosha for her birthday. The land was purchased 3 years ago. Assume no gift tax was paid on the transfer.


2. a) Does Gosha have gross income as a result of the gift? Yes or No. No?

b If the answer is no, Explain why.

c)What is Gosha basis in the land?

d)What is Gosha holding period in the land?