Income in respect of a cash basis decedent:
a) Covers income earned before the taxpayers death but not collected until after death
b) Receives a stepped-up basis in the decedent's estate
c) Must be included in the decedent's final income tax return
d) Cannot receive capital gain treatment© BrainMass Inc. brainmass.com June 4, 2020, 2:50 am ad1c9bdddf
Explanation for your study question:
a) covers income earned before the taxpayers death but not collected until after death
This is correct. The income in respect of a cash ...
This solution provides the correct answer with an explanation to the multiple choice question provided.