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:

Electrolytes

Substances that dissociate into ions in solution and acquire the capacity to conduct electricity.

Electrolytes

Substances that produce ions and conduct electricity when dissolved in water.

Not Electrolytes

Substances that do not dissociate into ions in solution and therefore cannot conduct electricity in their molten or aqueous states.

Non-electrolytes

Substances that do not produce ions when dissolved in water, and hence do not conduct electricity in solution.