Jennifer Thompson is the grantor of the Jennifer Thompson Trust, a revocable grantor trust. Ten years ago, Jennifer acquired a piece of real estate for $200,000. A year later, she spent $14,000 in improvements on the property. This year, when the value of the property was $300,000, she transferred it to the trust. What is the trust's basis in the property?

A). $200,000
B). $214,000
C). $300,000
D). $314,000

Answer rating: 100% (QA)

option C is correct 300000 Explanation ... View the full answer