Jude, a resident of New York, purchases realty for $500,000 listing title as "Jude and...
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Accounting
Jude, a resident of New York, purchases realty for $500,000 listing title as "Jude and Tony, joint tenants with right of survivorship." Tony predeceases Jude when the realty is worth $2,000,000. Tony's heirs have an income tax basis in the property of:
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