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Calculate roberts adjusted basis in the land

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Reference no: EM131788939

Robert and Diane, husband and wife, live in Pennsylvania, a common law state. They purchased land as joint tenants in 2012 for $300,000. In 2016, Diane dies and bequeaths her share of the land to Robert. The land has a fair market value of $450,000 on Diane's date of death. Calculate Robert's adjusted basis in the land.

Reference no: EM131788939

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