A Donee Receives Depreciable Property Worth $85,000 (Basis to Donor

question 155

True/False

A donee receives depreciable property worth $85,000 (basis to donor of $150,000) with no gift tax being paid on the transfer.The donee's basis for depreciation purposes is $85,000.

---

Definitions:

Self-Concept

Self-concept is the understanding or perception that a person has about themselves, encompassing thoughts, feelings, and beliefs about one's own identity and capabilities.

Geographic Basis

The method or approach that uses geographical location as a key factor in business decisions, marketing strategies, or data analysis.

Psychographic Basis

The classification of potential customers based on psychological characteristics, such as attitudes, values, lifestyles, and personality.

Product Attributes

Refer to the characteristics and features that define a specific product, including its appearance, quality, and functionality.