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Get your taxes done using TurboTax
Yes, your basis or cost of a gift is the same as it was from the giver (parents) of the gift.
You need to know exactly what your parents paid for the items they gave you.
Your basis for figuring a gain is the same as the donor's adjusted basis, plus or minus any required adjustments to basis while you held the property.
‎June 5, 2019
11:30 PM