e. What is Mike's tax basis in the land he received from Tiger?

Select one of choices (estate tax, inheritance tax, and gift tax) for the blank.   ( ) is a tax on the right to receive property from a decedent. ( ) is a tax levied on the right to transfer property during a taxpayer’s lifetime. ( ) is a tax that imposed on the right to pass property at death. ( ) is imposed on transfers made during the owner’s life time. (        ) is imposed on the transferor at death. ( ) is imposed on the recipient.

Do you think taxes affect the value of real estate versus other investments?

What do you believe led to the conclusion that a sole proprietorship should report its results on the owner’s tax return?