The Wade-Davis Bill in 1864

question 59

Multiple Choice

The Wade-Davis Bill in 1864:

• A) received strong support from congressional Democrats but not from Republicans.
• B) called for at least two-thirds of a southern state's voters to take a loyalty oath.
• C) showed Radical Republicans' frustration with Lincoln's Reconstruction plan.
• D) was the model for Lincoln's later Ten-Percent Plan.

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Definitions:

Automatic Extension

A granted period beyond the original due date for filing tax returns without needing to explain the reason for the delay.

FMV

Fair Market Value, the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.

Basis

The amount of investment in something for tax purposes, used to calculate gain or loss when the property is sold.

Taxable Gain

The increase in value of an asset or investment that is subject to taxes when sold or disposed of.