David Gave Property with a Basis of $1,330 to Hannah

question 29

Multiple Choice

David gave property with a basis of $1,330 to Hannah when the property had a FMV of $1,000 and paid gift taxes of $80.If Hannah later sells the property for $1,400,Hannah's basis (to determine gain) in the property immediately before the sale is

• A)$1,000.
• B)$1,080.
• C)$1,330.
• D)$1,410.

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Definitions:

Paternalistic Father-knows-best

A leadership or management style where decision-making is guided by a belief in the leaders' superior knowledge and experience, similar to a father's role in a family.

Opportunistic

Refers to an approach or action taken with the aim of exploiting situations to one's advantage, often with little regard for principles or consequences.

Country Club Manager

A leadership style characterized by high concern for people and low concern for production tasks.

Task Structure

The degree of clarity, or ambiguity, in the work activities assigned to the group.