Douglas and Julie are a married couple who live in Louisiana, a community property state....
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Accounting
Douglas and Julie are a married couple who live in Louisiana, a community property state. They jointly own property with an adjusted basis of $140,000. On December 2 of this year, Julie died when the property had a fair market value of $160,000. Douglas's basis in the property after Julie's death is
$0. $140,000. $150,000. $160,000.
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