At the time of her death, Nancy Stein owns two depreciable assets. Her will leaves one of these assets to her spouse Mark, with the other asset going to her son Nick. Each of these assets cost $125,000 and, at the time of Nancy's death, they each have a fair market value of $86,000. They are the only assets in their CCA class and the UCC balance for that class is $104,000. What are the tax consequences resulting from Ms. Stein's death with respect to the two assets? Your answer should include the capital cost and UCC for the assets in the hands of Mark and Nick.

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The Answer of At the time of her death, Nancy Stein owns two depreciable assets. Her will leaves one of these assets to her spouse Mark, with the other asset going to her son Nick. Each of these assets cost $125,000 and, at the time of Nancy's death, they each have a fair market value of $86,000. They are the only assets in their CCA class and the UCC balance for that class is $104,000. What are the tax consequences resulting from Ms. Stein's death with respect to the two assets? Your answer should include the capital cost and UCC for the assets in the hands of Mark and Nick.

At the Time of Her Death, Nancy Stein Owns Two