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Tom and Shari were married residents of California until Tom died this year. They owned...

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Accounting

Tom and Shari were married residents of California until Tom died this year. They owned their house together as community property with right of survivorship. Before Tom's death, their adjusted basis in the house was $400,000. When Tom died, the fair market value of the property had increased to $600,000. What is Shari's new basis in the house?
$300,000
$400,000
$500,000
$600,000

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