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Bob and Beth are married and live in Texas, a community property state. Their community property consists of real property with an adjusted basis of
Bob and Beth are married and live in Texas, a community property state. Their community property consists of real property with an adjusted basis of $300,000 and a fair market value of $750,000. Bob dies and leaves the real property to Beth. What is Beth's adjusted basis in the real property? a, $300,000 b. $375,000 c. $750,000 d. $525,000
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
