In 2012, Tom Turner Received a Gift of Property That

question 3

True/False

In 2012, Tom Turner received a gift of property that had a fair market value of $10,000 at the time of the gift. fte donor's adjusted basis in the property at the time of the gift was $12,000. Tom's basis for computing depreciation is $12,000.

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Definitions:

Standard Deviation

A statistic that indicates the dispersion or variability of a set of numerical data points around the mean.

Sample Size

The number of observations or participants included in a statistical sample.

Mean Value

The average of a set of numbers, calculated by dividing the sum of all the numbers by the count of the numbers.

Mode

The mode, or the value with the highest frequency, in a set of numbers.