With respect to property settlements in a divorce or separat

With respect to property settlements in a divorce or separation, all of the following are true with the exception of:


Question 34 options:






the settlement does not result in income to either spouse






neither spouse receives a tax deduction






the basis of property received by either spouse in the settlement remains unchanged






the basis of property received by either spouse in the settlement takes on the fair market value at the time of the transfer of property