Gordon died on january 1 and by his will left land with an, Ask an Expert

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Gordon died on January 1 and by his will left land with an adjusted basis of $60,000 and a FMV of $100,000 to Becky. Becky disclaims the property on December 31 of the year of death, when the land was still worth $100,000. Becky has made a gift (before the annual gift tax exclusion) of

a.$100,000

b.$60,000

c.$50,000

d.$0

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9410146

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