In July 2015, Lily gives Larry a house (basis of $200,000; fair market value of $650,000) to
Question:
a. The residence passes to Lily.
b. The residence passes to Burl (Lily's husband).
c. The residence passes to Tina (Lily's daughter).
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Related Book For
South Western Federal Taxation 2017 Corporations, Partnerships, Estates And Trusts
ISBN: 9781305874336
40th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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