Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Transfer by death of depreciable property.

Question

Quizplus · Accepted Answer

Depreciation recapture potential is eliminated upon the transfer of depreciable property by death, as the property receives a step-up (or step-down) in basis to its fair market value at the date of the decedent's death, thereby eliminating the potential for depreciation recapture that would have applied if the decedent had sold the property during their lifetime.

Match Each Statement with the Correct Choice