write:His son sells the land for $47 000. Sean’s adjusted basis for the land is $24 000 what is Jon’s recognized gain or loss on the sales?

for the fair market value of…;Sean sells land to Eli
his brother
for the fair market value of $39
000. Six months later when the land is worth $45
0
Eli sells the property to his son
Jon
without gift tax. His son sells the land for $47
000. Sean’s adjusted basis for the land is $24
000 what is Jon’s recognized gain or loss on the sales?

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write:His son sells the land for $47 000. Sean’s adjusted basis for the land is $24 000 what is Jon’s recognized gain or loss on the sales?

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