Mia, a resident of New Jersey, purchases realty for $600,000 listing title as "Mia and Ella, joint tenants with right of survivorship." Mia predeceases Ella when the realty is worth $3,000,000. Ella's income tax basis in the property is:
A) $-0-.
B) $300,000.
C) $1,800,000.
D) $3,000,000.
E) $3,300,000.
Correct Answer:
Verified
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