Bob and Ted are married and live in California, a community …
Bob and Ted are married and live in California, a community property state. Their community property consists of real property with an adjusted basis of $300,000 and a fair market value of $750,000 and other property with an adjusted basis of $100,000 and a fair market value of $75,000. Bob dies and leaves his entire estate to Ted. What is Ted’s adjusted basis in the real property and other property after Bob’s death? Real Property Other Property a.$150,000 $37,500 b.$300,000 $50,000 c.$375,000 $100,000 d.$750,000 $75,000