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Taylor inherits land which had a basis to the decedent of $90,000 and a fair market value of $75,000 on June 1, 2019, the date
Taylor inherits land which had a basis to the decedent of $90,000 and a fair market value of $75,000 on June 1, 2019, the date of the decedent's death. The fair market value on December 1, 2019, is $70,000. In filing the estate tax return, the executor is able to elect the alternate valuation date. Taylor sells the land on April 20, 2020, for $64,000. What is her recognized loss?
Group of answer choices:
$6,000
$26,000
$11,000
$5,000
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