Property Settlements Made Incident to a Divorce Have No Immediate

question 120

True/False

Property settlements made incident to a divorce have no immediate tax consequences; that is,the transfer from one spouse to another is not taxable.

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Definitions:

Impulse

A sudden strong and unreflective urge or desire to act.

Necrotic

Pertaining to the death of cells or tissues in the body, often as a result of disease, injury, or lack of blood supply.

Autonomic Nervous System

A part of the nervous system that controls involuntary actions of the smooth muscles and heart and also regulates glandular functions.

Glands

Organs in the body that secrete hormones or other substances directly into the blood or onto a body surface.