Business, 14.05.2021 02:30, skywil8981

Tobin inherited 100 acres of land on the death of his father in 2020. A Federal estate tax return was filed and the land was valued at $300,000 (its fair market value at the date of the death). Tobin's father originally acquired the land in 1977 for $19,000 and prior to his death made permanent improvements of $6,000. What is Tobin's basis in the land

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Tobin inherited 100 acres of land on the death of his father in 2020. A Federal estate tax return wa...