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
Correct Answer:
Verified
Correct Answer:
Verified
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