When property is transferred the gift tax is based, Ask an Expert

Accounting

When property is transferred, the gift tax is based on:

a. replacement cost of the transferred property.

b. fair market value on the date of transfer.

c. the transferor's original cost of the transferred property.

d. the transferor's depreciated cost of the transferred property.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9409829

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