The Basis of Property Transferred to a Taxpayer from a Spouse

question 44

True/False

The basis of property transferred to a taxpayer from a spouse or former spouse incident to a divorce is the FMV of the property at the date the divorce was final.

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Definitions:

Director

An individual appointed or elected to the board of an organization who is responsible for overseeing and guiding the company's policies, finances, and operations.

Systems Software

The class of computer instructions that serve primarily as an intermediary between computer hardware and application programs; provides important self-regulatory functions for computer systems.

Price

The amount of money expected, required, or given in payment for something.

Hardware

The physical components of a computer system, such as the CPU, memory devices, and input/output devices.