Travis and Andrea were divorced.Their only marital property consisted of a personal residence (fair market value of $400,000,cost of $200,000),and publicly-traded stocks (fair market value of $800,000,cost basis of $500,000).Under the terms of the divorce agreement,Andrea received the personal residence and Travis received the stocks.In addition,Andrea was to receive $50,000 for eight years.
A)Only III is true.
B)Only I and III are true.
C)Only I and II are true.
D)I,II,and III are true.
E)None of the above are true.

Question

Travis and Andrea were divorced.Their only marital property consisted of a personal residence (fair market value of $400,000,cost of $200,000),and publicly-traded stocks (fair market value of $800,000,cost basis of $500,000).Under the terms of the divorce agreement,Andrea received the personal residence and Travis received the stocks.In addition,Andrea was to receive $50,000 for eight years. 
A)Only III is true. 
B)Only I and III are true. 
C)Only I and II are true. 
D)I,II,and III are true. 
E)None of the above are true.

Quizplus · Accepted Answer

The Answer of Travis and Andrea were divorced.Their only marital property consisted of a personal residence (fair market value of $400,000,cost of $200,000),and publicly-traded stocks (fair market value of $800,000,cost basis of $500,000).Under the terms of the divorce agreement,Andrea received the personal residence and Travis received the stocks.In addition,Andrea was to receive $50,000 for eight years. 
A)Only III is true. 
B)Only I and III are true. 
C)Only I and II are true. 
D)I,II,and III are true. 
E)None of the above are true.

Travis and Andrea Were Divorced