Nancy Gives Her Niece a Crane to Use in Her

question 15

Multiple Choice

Nancy gives her niece a crane to use in her business with a fair market value of $61,000 and a basis in Nancy's hands of $80,000.No gift tax was paid.What is the niece's basis for depreciation (cost recovery) ?

• A)$0
• B)$19,000
• C)$61,000
• D)$80,000

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Definitions:

IEEE 802.3

A set of standards governing the physical and data link layer technologies for Ethernet, a widely used networking protocol.

Wireless Range Extender

A device that amplifies your wireless signal to get it out to parts of your home that are experiencing poor connectivity.

Wireless Access Point

A networking device that allows wireless devices to connect to a wired network using Wi-Fi or related standards.

Router

A networking device that forwards data packets between computer networks, directing traffic on the Internet.