The Jebali Estate distributes property, basis to Jebali of $14,000 and fair market value of $21,000, to

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The Jebali Estate distributes property, basis to Jebali of $14,000 and fair market value of $21,000, to beneficiary Nora. The executor elects that Jebali recognize the related $7,000 gain on the distribution.

Accordingly, Nora's basis in the property is $. Without the election, Jebali recognize the gain, and Nora's basis in the property would be $.

Related Book For answer-question

South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts

ISBN: 9781305399884

39th edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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Posted Date: Jan 15, 2021 09:54 AM

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The Jebali Estate distributes property, basis to Jebali of $14,000 and fair market value of $21,000, to

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South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts

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