Jane Ramos owned stock with a cost of $200,000. The stock has a market value on Jane's date of death of $375,000. The stock was willed to Jane's niece Jenny. Which of the following is true?
A) Jenny's basis is $200,000; the stock's value in the gross estate is $100,000.
B) Jenny's basis is $375,000; the stock's value in the gross estate is $100,000.
C) Jenny's basis is $200,000; the stock's value in the gross estate is $375,000.
D) Jenny's basis is $375,000; the stock's value in the gross estate is $375,000.
Correct Answer:
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