Which of the Following Is an Advantage to Making a Lifetime

question 58

Multiple Choice

Which of the following is an advantage to making a lifetime transfer of property to a donee?

• A)It may receive a basis higher than fair market value for the gift tax.
• B)It removes property from the taxable estate.
• C)It receives a step-up in basis to fair market value.
• D)Appreciation escapes taxation when it is sold at a later date.

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Definitions:

Optic Disc

The point on the retina at which the optic nerve fibers exit the eye, creating the blind spot as it lacks photoreceptors.

Fovea Centralis

A small depression in the retina of the eye where visual acuity is highest, due to the concentration of cone cells.

Blind Spot

The blind spot is an area on the retina without photoreceptors where the optic nerve exits the eye, resulting in a gap in the visual field.

Astigmatism

A common vision condition causing blurred vision due to an irregular curvature of the cornea or the lens inside the eye.