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1. Find the Internal Revenue Code section that governs the basis of property inherited from...

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Accounting

1. Find the Internal Revenue Code section that governs the basis of property inherited from a decedent. What is the code section?

2. Did the U.S. Supreme Court reverse of affirm the Court of Appeals in Badaracco v. Commissioner 464 US 386?

3. Locate the Revenue Ruling that addresses whether losses incurred from investing in fraudulent Ponzi schemes are considered capital losses or theft loses. Indicate the type of loss and the year in which the Revenue Ruling was issued.

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