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Author Question: Which of the following statements isincorrect? (Read 98 times)

khang

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on: Sep 13, 2020

Question 1

When property is transferred, the gift tax is based on
◦ replacement cost of the transferred property.
◦ fair market value on the date of transfer.
◦ the transferor's original cost of the transferred property.
◦ the transferor's depreciated cost of the transferred property.

Question 2

Which of the following statements is incorrect?
◦ Property taxes are levied on real estate.
◦ Excise taxes are assessed on items such as gasoline and telephone use.
◦ Gift taxes are imposed on the recipient of a gift.
◦ The estate tax is based on the fair market value of property at death or the alternate valuation date.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by khang on Sep 13, 2020

jackie

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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khang

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

nyrave

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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