Match Each Statement with the Correct Choice

question 137

Short Answer

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a.Step-up in basis
b.Step-down in basis
c.Gift of U.S. savings bonds
d.Gift of depreciable property that has § 1245 or § 1250 recapture of depreciation potential
e.Donor's basis on date of gift (appreciated property given)*
f.The amount of the deceased spouse's gross estate does not change
g.Fair market value on date of gift (depreciated property given)*
h.Expected surviving spouse is already wealthy
i.Income in respect of a decedent (IRD)
j.Expected surviving spouse is in good health
k.No correct choice is given
*No gift tax involved
-A gift causes income tax consequences to the donor.

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Synergistic Effect

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A method of collecting data that can determine whether something actually causes something else.

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The systematic study of society and social behavior by examining groups, cultures, organizations, social institutions, and processes that people develop and interact with.