Adjusted Basis: Cost Basis - Federal Taxation II: Property Transactions of Business Owners and
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Adjusted Basis: Cost Basis - Federal Taxation II: Property Transactions of Business Owners and Shareholders
U.S. Federal Taxation Specialization
This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, such as depreciation, amortization, and depletion; calculation of realized versus recognized gains and losses; evaluation of the potential tax effects of nontaxable exchanges; and the combining, or netting, gains and losses that are different in nature. Assignments facilitate self-discovery of knowledge and development of a variety of professional skills.
This course is very good starting point for obtaining an understanding of the Depreciation rules/ Asset classes employed,The instructors were very thorough and detailed. The explanations and examples provided were very helpful.
In this module, you will take a deep dive into property transactions, specifically disposals, and their tax consequences under U.S. federal tax law. First, we’ll begin by discussing the economic concept of amount realized. Next, we’ll discuss differences between the amount and gains or losses realized versus recognized, such as deferred or postponed gains and disallowed losses. Last, we’ll discuss the three main ways property basis is established, namely cost basis, gift basis, and inheritance basis.
Adjusted Basis: Cost Basis - Federal Taxation II: Property Transactions of Business Owners and Shareholders
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