Dudley Dumbarton purchased property for $100,000 in 2013. The property was

valued at $220,000 on May 14, 2021, when Dudley died. His daughter Agnes

inherited the property. Six months later, on November 14, 2021, the property was

valued at $150,000.

(a.) What is Agnes's basis in the property?

(b.) If the executor of Dudley's estate elected the alternate valuation date, what is

Agnes's basis?

(c.) If the executor elected the alternate valuation date but distributed the property on

August 18, 2021 when it was worth $75,000, what is Agnes's basis?

(d.) If the executor elected the alternate valuation date, but distributed the property on

December 22, 2021when it was worth $80,000, what is Agness basis?

(e.) If Agnes sells the property on December 27, 2021, will she have short-term or

long-term gain or loss?