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Deductions & credits
The recipient's cost basis in a gift is the givers cost basis. If you receive a new pair of jeans for Xmas, you cost basis is what the giver paid.
The Airline's cost basis in the points they give you is zero. They may have value, but they don't have a cost
The Airline's cost basis in the points they give you is zero. They may have value, but they don't have a cost
‎June 5, 2019
10:27 PM