NACVA Exam CVA Topic 4 Question 101 Discussion

Actual exam question for NACVA's CVA exam

Question #: 101
Topic #: 4

[All CVA Questions]

There are some allowable methods for determining the basis of property received in exchange for other property. Which of the following is/are out those methods?

AIncome basis of tax on the property

BIf a taxpayer receives property for services, then the original basis of the property when it is received is its original price

CThe basis is the fair market value of the property exchanged for it, increased by any payments made or decreased by any payments received, when the two properties are of unequal value

DThe basis is the fair market value of the property when its is received

Show Suggested Answer

Suggested Answer: D

by Izetta at Oct 22, 2024, 09:37 AM

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