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Lesley and Morgan Are Husband and Wife and Have Always

Question 62

Multiple Choice

Lesley and Morgan are husband and wife and have always lived in Idaho,a community property state.At the time of Morgan's prior death,their community property includes:
Lesley and Morgan are husband and wife and have always lived in Idaho,a community property state.At the time of Morgan's prior death,their community property includes:   Under Morgan's will,all of her property passes to Lesley.After Morgan's death,Lesley takes an income tax basis of: A) $900,000 in Kite and $450,000 in Merlin. B) $900,000 in Kite and $500,000 in Merlin. C) $800,000 in Kite and $450,000 in Merlin. D) $800,000 in Kite and $500,000 in Merlin. E) None of the above.
Under Morgan's will,all of her property passes to Lesley.After Morgan's death,Lesley takes an income tax basis of:


A) $900,000 in Kite and $450,000 in Merlin.
B) $900,000 in Kite and $500,000 in Merlin.
C) $800,000 in Kite and $450,000 in Merlin.
D) $800,000 in Kite and $500,000 in Merlin.
E) None of the above.

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