The Adjusted Basis to the Recipient of Property Bequeathed by a Decedent

Multiple Choice

The adjusted basis to the recipient of property bequeathed by a decedent generally is which of the following?

A) Fair market value on the valuation date of the decedent's estate
B) Adjusted basis to the decedent on the valuation date of his or her estate
C) Fair market value on the valuation date of the decedent's estate, less estate taxes paid on the transfer
D) Adjusted basis to the decedent on the valuation date of his or her estate, plus estate taxes paid on the transfer