Ed and Cheryl have been married for 27 years.They own land jointly with a basis of $140,000.Ed dies in 2010,when the fair market value of the land is $220,000.Under the joint ownership arrangement,the land passed to Cheryl.

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The Answer of Ed and Cheryl have been married for 27 years.They own land jointly with a basis of $140,000.Ed dies in 2010,when the fair market value of the land is $220,000.Under the joint ownership arrangement,the land passed to Cheryl.

Ed and Cheryl Have Been Married for 27 Years