Question: Lee inherited a partnership interest from Dale during 2011. The adjusted basis of Dales partnership interest was $50,000, and its fair market value on the

Lee inherited a partnership interest from Dale during 2011. The adjusted basis of Dale’s partnership interest was

$50,000, and its fair market value on the date of Dale’s death (the estate valuation date) was $70,000. What was Lee’s original basis for the partnership interest?

a. $70,000

b. $50,000

c. $20,000

d. $0

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