Question
Ashley inherited all of the property of her aunt, who died in 2019. Her aunt's adjusted basis for the property at the date of death
Ashley inherited all of the property of her aunt, who died in 2019. Her aunt's adjusted basis for the property at the date of death was $4,200,000. The property's fair market value was $6,500,000 at the date of death and $6,800,000 six months after the date of death.
Ashley's basis for income tax purposes is $?
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South Western Federal Taxation Individual Income Taxes 2017
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
40th Edition
1337074748, 130587398X, 9781337074742, 978-1305873988
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