Madison was married at the time of her death and her gross estate consisted of...
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Accounting
Madison was married at the time of her death and her gross estate consisted of $22 million in stock and bonds. Madison left all of her property to her spouse. What is the result?
- Madison's surviving spouse will have an income tax basis in the inherited property of zero.
- Madison's adjusted gross estate will be zero.
- Madison's estate will have a tentative estate tax of zero.
- Madison's taxable estate will be zero.
- None of these.
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