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Income Tax Planning
Chapter 10: Basis Rules, Depreciation, and Asset Categorization/DETERMINING BASIS
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 10: Basis Rules, Depreciation, and Asset Categorization

DETERMINING BASIS

01.Core Concepts

Cost Basis • Initial capital used to purchase the investment • Includes: • Cash • Cost of property given in exchange • Recourse debt used for financing • Costs necessary to acquire the asset (sales tax, freight, installation)