QUESTION 15 All section 1245 assets are also section 1231 assets but not all section 1231 assets are 1245 assets. True False QUESTION 16 For purposes of the estate tax to which of the following can assets be transferred with an unlimited exclusion? Spouse Parent Ochild Grandchild QUESTION 17 Taxpayers starting a new business Expenditures for startup costs are $45,000. What amount of amortization expense is recognized in the year the business begins Round your final answer to the nearest dollar $5.000 57,467 145.000 52667 QUESTION 18 Tanpwers at the basis of $11.000 for cash proceeds of $15.000. Depreciation in all prior years equals $3,000. What is the total amount of ordinary income recogned in this transaction? 52.000 Type bere to search