Billy and Sue Are Married and Live in Texas,a Community

question 20

Multiple Choice

Billy and Sue are married and live in Texas,a community property state.They jointly own real property with an adjusted basis of $200,000.When the property has a FMV of $450,000,Billy dies leaving all of the property to Sue.If she later sells the property for $650,000,what is Sue's gain on the sale?

• A)$200,000
• B)$225,000
• C)$325,000
• D)$450,000

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