Jamahl and Indira Are Married and Live in a Common

question 32

Multiple Choice

Jamahl and Indira are married and live in a common law state.They jointly own real property with an adjusted basis of $200,000.When the property has a FMV of $450,000,Jamahl dies leaving all of the property to Indira.If she later sells the property for $700,000,what is Indira's gain on the sale?

• A)$250,000
• B)$475,000
• C)$375,000
• D)$500,000

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Definitions:

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A fast-growing, invasive vine native to Asia, known for its capability to cover and smother other plants and structures.

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