When Property Is Transferred,the Gift Tax Is Based on

question 10

Multiple Choice

When property is transferred,the gift tax is based on

• A)replacement cost of the transferred property.
• B)fair market value on the date of transfer.
• C)the transferor's original cost of the transferred property.
• D)the transferor's depreciated cost of the transferred property.

---

Definitions:

Internet Browsers

Software applications used to access, retrieve, and view information on the World Wide Web, including websites, videos, and images.

Unfair Practice

Deceptive, fraudulent, or unethical conduct by a business that misleads consumers or prevents competitors from playing on a level playing field.

Section 5

Without specific context, this could refer to various laws or regulations, depending on the jurisdiction; it generally denotes a particular section of a legal statute.

Fair Debt Collection Practices Act

A U.S. statute aimed at promoting fair, accurate, and respectful treatment of consumers by debt collectors, and providing guidelines on how debt can be collected.