Match Each Statement with the Correct Choice

question 22

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Donee's basis for gain.

• A)Step-up in basis
• B)Step-down in basis
• C)Gift of installment notes receivable
• D)Gift of property that has potential for recapture of depreciation
• E)Donor's basis on date of gift appreciated property given, no gift tax due)
• F)The amount of the deceased spouse's taxable estate does not change
• G)Fair market value on date of gift
• H)Expected surviving spouse is in good health and 10 years younger
• I)No income tax consequences to the beneficiary
• J)Income in respect of a decedent IRD)
• K)No correct choice is given

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Definitions:

Self-Determination Theory

The theory that people need to feel at least some degree of autonomy and internal motivation.

Error Management Theory

A theory suggesting that when making decisions under uncertainty, people are biased toward making the less costly error.

Action Identification Theory

A theory suggesting that how individuals identify and think about their actions affects how they perform and experience those actions.

Temporal Discounting

The bias towards valuing rewards received right away more than those in the future.