Question: Please help me answer these questions QUESTION 17 When property passes to heirs from an estate, what basis does the heir take in the property?

Please help me answer these questions

QUESTION 17 When property passes to heirs from an estate, what basis does the heir take in the property? O No basis FMV of the asset on the date title transfers Step up basis O Carry over basis QUESTION 18 Taxpayer successfully exchanges a building with basis of $500,000 and depreciations of $200,000 for blackacre of $1,000,000 and $50,000 cash. What is the realized gain on this exchange? 550.000 $1,000,000 $750,000 $0

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