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Showing content with the highest reputation on 08/03/2019 in Posts
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The widow gets 3/4 of the property at stepped-up basis. Forget depreciation, basis of the inherited portion is FMV on date of death. For her 1/4, basis is her original share of purchase price less 1/4 of the depreciation taken over the years. Hey, you're in this business because you love math, right?2 points
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1. Install voice recognition app. 2. Press Alt and Ctrl simultaneously. 3. Clearly and distinctly enunciate: "SHAZAM!" 4. All will be revealed.1 point