Multiple Choice
A and E are a married couple living in a community property state.E owned an apple orchard in which she had a basis of $70,000.She sold the orchard to A last year for its fair market value of $100,000.They remain happily married.What gain did E recognize on the sale?
A) $0
B) $30,000
C) $70,000
D) $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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