Callie Cooper purchased two pieces of property in 1990: Property Q cost $15,000 and Property R cost $30,000. In 2020, when Callie died, she left the property to her daughter, Christy. At that time,...

Callie Cooper purchased two pieces of property in 1990: Property Q cost $15,000 and Property R cost $30,000. In 2020, when Callie died, she left the property to her daughter, Christy. At that time, Property Q had appreciated in value to $80,000 while Property R had declined in value, now worth only $10,000.

1. 
   
   
   What is Christy’s basis in each piece of property?
   


2. 
   
   
   What are the tax consequences of the changes in value of the properties from the time of original purchase to the death of Callie?