Match Each Statement with the Correct Choice

question 102

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Decedent owned traditional IRA that has appreciated.

• A)Step-up in basis
• B)Step-down in basis
• C)Gift of installment notes receivable
• D)Gift of property that has potential for recapture of depreciation
• E)Donor's basis on date of gift appreciated property given, no gift tax due)
• F)The amount of the deceased spouse's taxable estate does not change
• G)Fair market value on date of gift
• H)Expected surviving spouse is in good health and 10 years younger
• I)No income tax consequences to the beneficiary
• J)Income in respect of a decedent IRD)
• K)No correct choice is given

---

Definitions:

Free Speech

The right to express information, ideas, and opinions free of government restrictions based on content and subject to reasonable limitations.

Fourth U.S. Congress

The meeting of the legislative branch of the United States federal government from March 4, 1795, to March 3, 1797.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing fundamental rights and freedoms to American citizens.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing specific freedoms and rights to American citizens.