Bob owned a duplex used as rental property.  The duplex had an adjusted basis to Bob of $86,000 and a fair market value of $300,000.  Bob transferred the duplex to his brother, Carl, in exchange for a triplex that Carl owned.  The triplex had an adjusted basis to Carl of $279,000 and a fair market value of $300,000.  Two months after the exchange, Carl sold the duplex to his business associate to whom he was not related for $312,000.  What is Bob's bases in the triplex? Select one of the answers below and show your work: a. $86,000 b. $279,000 c. $300,000 d. $312,000

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Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.