What are mary''s'' and larry''s bases in these assets


Joan gives an asset valued at $12,000 with a basis of $10,000 to Mary; Joan dies six-months later leaving an asset valued at $10,000 with a basis of $12,000 to Larry. What are Mary's' and Larry's bases in these assets?

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Accounting Basics: What are mary''s'' and larry''s bases in these assets
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