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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According to GAAP, interest must be capitalized for
A) assets that are ready for use. B) assets constructed for a firm's own use. C) assets that are not being used in the earning activities of the company. D) inventories that are produced in large quantities on a repetitive basis.
Which of the following controls would most likely assure that a company can reconstruct its financial records?
A. Security controls such as firewalls B. Backup data are tested and stored safely C. Paper records D. Personnel understand the data very well
If the respondent needs to watch a twenty-minute infomercial, which of the following data collection might be chosen?
A) person-administered methods and in-office interviewing B) mail and telephone C) mail, in-home and out-of-office interviewing D) mall intercept E) in-home, online or in-office interviewing
To ensure that the feedback recipient feels valued (when coaching), it is important to make sure that any negative feedback is ______.
a. minimized b. balanced with positive reinforcement c. only delivered when others are around for support d. none of these