Saitama, a one punch boxer who can eliminate all his opponents approached you as his consultant due to his lack of knowledge about taxation. One day, while serving the earth as a professional boxer, his father died due to a cardiac arrest. He inherited a golden boxing gloves and a property. Saitama, sold the property to Genos and kept the golden gloves to himself. Saitama, currently under the preparation of his income tax return, asked you what should be the basis of cost in computing the gain or loss of his property which he acquired through inheritance Group of answer choices A. FMV at the time of acquisition or inheritance B. Same as it would be in the hands of the decedent C. Latest inventory value D. Purchase price plus expenses of acquisition at the time of the death of Saitama's father
Saitama, a one punch boxer who can eliminate all his opponents approached you as his consultant due to his lack of knowledge about
Group of answer choices
A. FMV at the time of acquisition or inheritance
B. Same as it would be in the hands of the decedent
C. Latest inventory value
D. Purchase price plus expenses of acquisition at the time of the death of Saitama's father
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