The Carryover Basis to a Donee for Property Received by Gift

question 102

True/False

The carryover basis to a donee for property received by gift can be an amount greater than the donor's adjusted basis.

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Definitions:

Trauma

A deeply distressing or disturbing experience, often resulting in lasting psychological impact.

Mental

Relating to the mind, cognitive processes, or psychological state of an individual.

Emotional State

The internal condition of an individual that involves feelings, moods, and temperaments, influencing perception and behavior.

Compensatory Manner

A way of adjusting behavior or thoughts to make up for losses or deficiencies in other areas.