Question $3$ of $15.$

Roy purchased a Remington bronze sculpture for $$35,000.$ Seven years ago, when it was worth $$75,000,$ Roy gitted the trust, but the trust document says it will not become part of Roy's estate. Which of the following statements is TRUE?

The basis of the sculpture after Roy's passing will be:

$$35,000$

$$75,000$

The fair market value on the date of Roy's death.

The fair market value nine months affer the date of Roy's death.

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