Content AreaDuring the current year, Hawk Corpo Question Content AreaLing and Jiang are unrelated and equal joint tenants in a plot of land. Ling died this year. Ling's share of the land goes to: a. Ling's surviving spouse. b. Jiang under community property principles. c. Jiang under a right of survivorship. d. The party named in Ling's will.ration sold equipment for $600,000 (adjusted basis of $360,000). The equipment was purchased a few years ago for $760,000 and $400,000 in MACRS deductions have been claimed. ADS depreciation would have been $300,000. As a result of the sale, the adjustment to taxable income needed to determine current E & P is: a. No adjustment is required. b. Add $80,000. c. Add $100,000. d. Subtract $100,000