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Billy and Sue are married and live in Texas, a community property state. They jointly...

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Accounting

Billy and Sue are married and live in Texas, a community property state. They jointly own real property with an adjusted basis of $200,000. When the property has a FMV of $450,000, Billy dies leaving all of the property to Sue. If she later sells the property for $650,000, what is Sue's gain on the sale? (Points : 4)

$200,000 $225,000 $325,000 $450,000

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