6. Nick purchased Blackacre for $100,000. Nick did not prepare a will but died in-testate. Based on the states intestacy provisions, Blackacre was transferred to his son, Marty. At the time of Nicks death, Blackacre was worth $120,000. a. Must Marty include the value of Blackacre in his gross income? b. What is his basis in Blackacre?

7. Francine owned Whiteacre. Her basis in the property was $50,000 and its fair market value was $75,000. Francine sold Whiteacre to Sam, her nephew, for$60,000. a. How much gain or loss must Francine report? b. What basis does Sam take in Whiteacre?

9. Taxpayer works at the local casino. Each night she collects approximately $50 in tokes. Must Taxpayer include the tokes in her gross income? Why or why not?