Gordon Died on January 1 and by His Will Left

question 96

Multiple Choice

Gordon died on January 1 and by his will left land with an adjusted basis of $60,000 and an FMV of $100,000 to Becky. Becky disclaims the property on December 31 of the year of death, when the land was still worth $100,000. Becky has made a gift (before the annual gift tax exclusion) of

• A)$100,000.
• B)$60,000.
• C)$50,000.
• D)$0.

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Definitions:

Snellen Test

An eye examination test that measures visual acuity using a chart of letters or symbols of steadily decreasing size.

Sclera

The white outer layer of the eyeball, providing structural support and protection for the eye.

Choroid

A vascular layer of the eye located between the sclera and the retina, which provides oxygen and nutrients to the outer retina.