Ragan and his wife megan who died last year purchased a, Ask an Expert

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Ragan and his wife, Megan, who died last year, purchased a home 10 years ago for $250,000 and titled the property as JTWROS. At the time of the purchase, Megan contributed all of the price. At the time of her death, the FMV of the home was $500,000. If Ragan should now sell the home for $500,000, his basis in the property for purposes of calculating any gain would be:

A. $500,000

B. $250,000

C. $375,000

D. $125,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92323497

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