With Respect to Property Settlements in a Divorce or Separation

question 1976

Multiple Choice

With respect to property settlements in a divorce or separation, all of the following are true with the exception of

• A) the spouse receiving a property settlement has a basis equal to the basis of that property to the paying spouse prior to payment.
• B) a property settlement does not result in income to either spouse.
• C) no tax deduction is allowed for payment of a property settlement.
• D) All of the above statements are correct.

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Definitions:

Buffered

A solution's capacity to resist changes in pH when acids or bases are added.

Polar Solvents

Substances that have a partial positive and partial negative charge, making them effective at dissolving ionic and other polar substances.

Ions

Atoms or molecules with a net electrical charge due to the loss or gain of one or more electrons.

Gases

Substances that can expand freely to fill any space available, irrespective of its quantity.