FICA taxes include:

A. Charitable giving.
B. Employee state income tax.
C. Farming income crop adjustment taxes.
D. Social Security and Medicare taxes.
E. Federal and state unemployment taxes.


Answer: D

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Indicate whether the statement is true or false

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Terrell and Michelle are married and living in New York, which is a not a community property state. They jointly own property with an adjusted basis of $240,000. On December 2 of this year, Michelle died when the property had a fair market value of $260,000. Terrell's basis in the property after Michelle's death is

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