If Depreciable Property Is Transferred by Gift, Any Depreciation Recapture

question 42

True/False

If depreciable property is transferred by gift, any depreciation recapture potential carries over to the donee.

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Definitions:

Revocation

The act of officially canceling or withdrawing something, such as a law, right, or offer.

Offeree

An offeree is a person or entity to whom an offer is made, typically in the context of contracting or other legal agreements.

Employer's Promise

An assurance or guarantee given by an employer to an employee, outlining specific commitments regarding job security, working conditions, or benefits.

Bonus

Additional compensation given to employees as a reward for their performance or as an incentive.