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

Chapter 10: Basis Rules, Depreciation, and Asset Categorization

BASIS OF PERSONAL USE ASSETS

01.Core Concepts

• Initial Basis = Cost • Basis increased by capital additions • Capital is recovered when asset is sold • Depreciation is not allowed