Multiple Choice
Al owns stock with an adjusted basis of $100,000 and a fair market value of $300,000.He gives the stock to Jane on July 1, 2011.When Jane dies, the fair market value of the stock is $900,000.Jane's will provides that Al is to receive the stock.Which of the following is false?
A) If Jane dies on June 1, 2012, Al's basis for the stock is $100,000.
B) If Jane dies on August 1, 2012, Al's basis for the stock is $900,000.
C) If Jane dies on June 15, 2012, Al's basis is $300,000.
D) If Jane dies on July 1, 2012, Al's basis is $100,000.
E) All of the above are true.
Correct Answer:

Verified
Correct Answer:
Verified
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