Property settlements made incident to a divorce have no immediate tax consequences; that is, the transfer from one spouse to another is not taxable.
Answer the following statement true (T) or false (F)
True
A property settlement is simply a division of property pursuant to a divorce. Neither party recognizes income nor deduction, and the basis carries over to the recipient.
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Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $70,000. October November December Budgeted cost of goods sold60,000 40,000 50,000 Plus: Desired ending inventory6,000 ? ? Inventory needed66,000 ? ? Less: Beginning inventory9,000 ? ? Required purchase (on account)57,000 ? ? What would be the required purchases (on account) for December?
A. $53,000 B. $47,000 C. $50,000 D. $60,500
What is an industry?
a. The financial services sector b. The economy of a country c. A group of firms that produce products and services that are close substitutes for each other d. An individual who works really hard
Who made the Intel error problem public?
a. Intel b. A mathematician professor c. IBM d. None of the above
Jill publicly states that Alvin committed a murder. Jill's statement is considered:
a. rude b. proximate defamation c. defamation by default d. defamation qua non e. none of the other choices