Multiple Choice
Neal and his wife Faye reside in Texas,a community property state.Their community property consists of real estate (adjusted basis of $800,000;fair market value of $6 million) and personal property (adjusted basis of $390,000;fair market value of $295,000) .Neal dies first and leaves his estate to Faye.What is Faye's basis in the property after Neal's death?
A) $800,000 real estate and $295,000 personal property.
B) $800,000 real estate and $390,000 personal property.
C) $3,400,000 real estate and $295,000 personal property.
D) $6,000,000 real estate and $295,000 personal property.
E) None of these.
Correct Answer:

Verified
Correct Answer:
Verified
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