Identify Which of the Following Statements Is True

question 91

Multiple Choice

Identify which of the following statements is true.

• A)If the gifted property's FMV on the date of the gift exceeds its adjusted basis and the donor pays no gift tax, the donee's basis is the same as the donor's basis if the property is sold for a loss.
• B)Prospective donors should not dispose of property that has declined in value by selling it rather than gifting it.
• C)A $15,000 annual exclusion per donee is available for both gift tax and estate tax purposes.
• D)All of the above are false.

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Definitions:

Primitive Language

The earliest forms of human communication, often consisting of simple sounds, gestures, or symbols before the development of complex languages.

Infant Crying

A baby’s primary means of communication, often indicating hunger, discomfort, distress, or the need for attention.

Later IQ Scores

Measures of intellectual ability or cognitive capacity obtained at a later stage, potentially influenced by early life experiences and education.

Visual Recognition Memory

The kind of memory shown in an infant’s ability to discriminate previously seen objects from novel objects.