Faith inherits an undivided interest in a parcel of land from her father on February 15,2012.Her father purchased the land on August 25,1985 and his basis for the land was $325,000.The fair market value of the land is $12,500,000 on the date of her father's death and is $11,000,000 six months later.The executor elects the alternate valuation date.Faith has nine brothers and sisters and each inherited a one-tenth interest.
Definitions:
Comparative Genomics
The field of biological research in which the genomic features of different organisms are compared.
Genomes
The complete set of genes or genetic material present in a cell or organism.
Evolutionary History
The chronological development and diversification of species over time, from common ancestors to modern forms.
Vertebrates
Animals with a backbone or spinal column, including mammals, birds, reptiles, amphibians, and fish.
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