Mr. and Mrs. Plum sold an investment asset to their son, Leo. Because Leo is a related party, the Plums do not recognize any gain or loss realized on the sale. True False Assume that Congress plans to change the Internal Revenue Code to provide a deduction for the first $5,000 of residential rent paid by families with adjusted gross income below $50,000. Which of the following statements is TRUE regarding the intent of such a change? The change is intended to improve the equity of the income tax. The change is intended to improve the convenience of the income tax. The change is intended to improve the efficiency of the income tax. The change is intended to improve the simplicity of the income tax