Lois gifted stock to her dying husband bradley worth 500000, Ask an Expert

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Lois gifted stock to her dying husband, Bradley, worth $500,000. Her basis in this stock was $200,000. Bradley's Will bequeathed all of his property to Lois. Assume Bradley died two years after receiving the stock. What was the consequence of this reverse gift?

A. The stock received a step-up in basis at Bradley's death

B. The stock did not receive a step-up in basis because it must be bequeathed to someone other than the decedent's spouse

C. Lois inherited Bradley's adjusted basis in the stock

D. Lois had to pay a gift tax when the stock was transferred to Bradley

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91783463

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