Gifts of Appreciated Depreciable Property May Trigger Recapture of Depreciation

question 48

True/False

Gifts of appreciated depreciable property may trigger recapture of depreciation or cost-recovery deductions to the donor.

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Definitions:

Majority Vote

A decision-making process where more than half of the votes cast by members of a group decide the outcome.

Dissolution Proceedings

Legal processes aimed at dissolving a company, partnership, or other entity, effectively bringing its operations and legal existence to an end.

Abuse of Corporate Powers

Unethical or illegal use of company authority for personal gain or to manipulate or harm others.

Corporate Dissolution

The formal process of dissolving a corporation's legal existence.