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A son inherits a house from his mother that has a fair market value (FMV) of $200,000 at the time of her death. Her tax
A son inherits a house from his mother that has a fair market value (FMV) of $200,000 at the time of her death. Her tax basis was $75,000, the amount she paid for the house 30 years ago. Therefore, the son's tax basis of the property inherited from his mother is what amount?
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Federal Taxation 2018 Corporations, Partnerships, Estates & Trusts
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
31st Edition
134550923, 134550927, 978-0134550923
