Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a.Step-up in basis
b.Step-down in basis
c.Gift of U.S. savings bonds
d.Gift of depreciable property that has § 1245 or § 1250 recapture of depreciation potential
e.Donor's basis on date of gift (appreciated property given)*
f.The amount of the deceased spouse's gross estate does not change
g.Fair market value on date of gift (depreciated property given)*
h.Expected surviving spouse is already wealthy
i.Income in respect of a decedent (IRD)
j.Expected surviving spouse is in good health
k.No correct choice is given
*No gift tax involved
-Measure of income tax deduction on a gift of property to charity.

Question

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The Answer of Match each statement with the correct choice. Some choices may be used more than once or not used at all.
a.Step-up in basis
b.Step-down in basis
c.Gift of U.S. savings bonds
d.Gift of depreciable property that has § 1245 or § 1250 recapture of depreciation potential
e.Donor's basis on date of gift (appreciated property given)*
f.The amount of the deceased spouse's gross estate does not change
g.Fair market value on date of gift (depreciated property given)*
h.Expected surviving spouse is already wealthy
i.Income in respect of a decedent (IRD)
j.Expected surviving spouse is in good health
k.No correct choice is given
*No gift tax involved
-Measure of income tax deduction on a gift of property to charity.

Match Each Statement with the Correct Choice