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Description:

When buying or selling assets, the basis of those items is critical to the future calculation of capital recovery, gain or loss realization and recognition, and depreciation. This textbook provides the tools to determine an asset’s initial basis and adjustments to that basis. Assets discussed include tangible or intangible property, including real and personal property, stocks, bonds and mutual funds, as well as partnership and S corporation interests

Topics include:

• Determining basis based on various means of acquisition including purchase, creation, gift and inheritance
• Identifying payments capitalized as part of basis and those expensed as a current operating expense
• Calculating the basis of stocks
• Calculating the basis of mutual funds using the allowable methods
• Applying the timing and ordering of basis adjustments
• Differentiating between the partner’s outside and inside basis in a partnership
• Comprehending the differences between the shareholder’s stock basis and debt basis in an S corporation

Product Details:

Level: Basic

Authors: NATP Staff

Published: 2021

Format: Print

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