eLearning

Income Tax Basis, Part 1: Overview and Conceptual Aspects

Price: $224 eLearning

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DESCRIPTION

Basis in property represents the property owner's investment in property for federal income tax purposes and is used in computing his or her gain or loss in the property. Understanding the concept of basis is quite complicated due to various factors. This course is the first in a series of four courses and provides an overview of the concept of basis, its numerous variations, its significance in tax law, and record keeping and reporting requirements. This course will also briefly cover how basis is computed and allocated (although these topics will be covered more in depth in other courses in this series).

This course is based on Bloomberg BNA Tax Management Portfolio 560-3rd : Income Tax Basis: Overview and Conceptual Aspects.

Educational Objectives:
• Determine the significance of basis
• Differentiate between the different varieties of basis
• Compute basis
• Apply basis allocation rules
• Determine how to properly report basis