Liam and Isla Are Husband and Wife and Have Always

question 52

Multiple Choice

Liam and Isla are husband and wife and have always lived in a community property state. At the time of Isla's prior death, part of their community property includes: Under Isla's will, all of her property passes to Liam. After Isla's death, Liam's income tax basis in this property is:

• A) $2,500,000.
• B) $3,500,000.
• C) $7,000,000.
• D) $8,000,000.
• E) None of the above.

---

Definitions:

Fluid Intelligence

is the capacity to think logically and solve problems in novel situations, independent of acquired knowledge.

Reason Speedily

The ability to think and come to conclusions quickly.

Nontwin Siblings

Siblings that are not part of a pair of twins, meaning they were born at different times.

Intelligence Test

A standardized test designed to assess human intelligence and cognitive skills.