Ashley inherited all of the property of her aunt, who died in 2019. Her aunt's adjusted basis
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Ashley inherited all of the property of her aunt, who died in 2019. Her aunt's adjusted basis for the property at the date of death was $4,200,000. The property's fair market value was $6,500,000 at the date of death and $6,800,000 six months after the date of death.
Ashley's basis for income tax purposes is $?
Related Book For
South Western Federal Taxation Individual Income Taxes 2017
ISBN: 9781305873988
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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