At her death on August 1 of the current year, Nancy Mori owned stocks with an adjusted cost base of $11,000 and a fair market value of $20,000, and a term deposit of $30,000. She also owned a building that had a cost of $98,750, a fair market value of $110,000, and a UCC of $70,000. She bequeaths all of her assets to her daughter, Christine. Nancy's Taxable Income at death arising from the dispositions totals $10,125.

Question

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The question provides information regarding Nancy's assets and income at the time of death, but it does not provide enough information to determine whether her bequest to her daughter, Christine, will result in any tax implications. It is possible that Christine will inherit the assets and income tax-free under certain circumstances, or that she may be required to pay taxes on some or all of the inherited assets. Additional information would be needed to make a determination in this regard.

At Her Death on August 1 of the Current Year