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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Definitions:

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Fine, soft hair, especially that which covers the body and limbs of a newborn human.

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A yellow compound that occurs in the normal catabolic pathway that breaks down heme in vertebrates. Its levels are measured to assess liver function.

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