The Cost Recovery Basis for Property Converted from Personal Use

question 46

True/False

The cost recovery basis for property converted from personal use to business use may be the fair market value of the property at the time of the conversion.

---

Definitions:

Evolution Timescales

The long periods over which evolutionary processes such as mutation, selection, and drift act, ranging from thousands to billions of years.

Natural Selection

The process by which organisms that are better adapted to their environment tend to survive and produce more offspring, a key mechanism of evolution.

Beak Size

The physical measurement of the length or depth of a bird's beak, which can influence its ability to feed and mate.

Fossil Record

The collection of all known fossils and their placement in chronological order, providing evidence about the history of life on Earth.