The holding period of property acquired by gift may begin on:
A)The date the property was acquired by the donor only.
B)The date of gift only.
C)Either the date the property was acquired by the donor or the date of gift.
D)Only a.and c.are correct.
E)a. ,b. ,and c.are correct.

Question

Quizplus · Accepted Answer

The holding period of property acquired by gift can begin on either the date the property was acquired by the donor or the date of the gift, depending on whether the donor's basis is used or the fair market value at the time of the gift is used.

The Holding Period of Property Acquired by Gift May Begin