QUESTION 4 1 An inheritance tax is a tax on heirs at death True False QUESTION 5 1 The imposition of a tax of 15% on all income would be basically flat in nature because a person earning $200,000 would pay twice as much as someone earning S100,000. True False 1 QUESTION 6 Torry, an individual, had a $10,000 not short-term capital loss this year. Torry must carry the whole loss forward and deduct it next year True False