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Henrietta and Hollis Have Been Married for 10 Years When

Question 57

Multiple Choice

Henrietta and Hollis have been married for 10 years when Hollis dies in a sky-diving accident.Their assets are summarized below. Henrietta and Hollis have been married for 10 years when Hollis dies in a sky-diving accident.Their assets are summarized below.   Henrietta and Hollis reside in Wisconsin, a community property state.All of the assets were acquired with community funds and pass to Henrietta.Her basis for each of the assets becomes: Car House Cash from life insurance proceeds A) $20,000 $150,000 $ 10,000 B) $17,500 $175,000 $ 10,000 C) $17,500 $175,000 $100,000 D) $15,000 $200,000 $100,000 E) None of the above. Henrietta and Hollis reside in Wisconsin, a community property state.All of the assets were acquired with community funds and pass to Henrietta.Her basis for each of the assets becomes:
Car House Cash from life insurance proceeds


A) $20,000 $150,000 $ 10,000
B) $17,500 $175,000 $ 10,000
C) $17,500 $175,000 $100,000
D) $15,000 $200,000 $100,000
E) None of the above.

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