Nine months ago, Bonnie gave land to Ron. At the date o…
Nine months ago, Bonnie gave land to Ron. At the date of gift, the land had a fair market value of $400,000 and an adjusted taxable basis to Bonnie of $250,000. Ron died bequeathing all of his property to Bonnie. If the land had a fair market value of $450,000 on the date of Ron’s death, what is Bonnie’s adjusted taxable basis in the land?