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Henrietta and Hollis Have Been Married for 10 Years When

Question 150

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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