Basis and Holding Period of Assets
The basis of an asset is the value used for tax purposes to determine gain or loss upon sale or disposition, typically originating from the asset's cost with adjustments for improvements, depreciation, or amortization. The holding period refers to the length of time an asset is owned, which affects the classification of capital gains as short-term or long-term for tax implications, with long-term usually being applicable for assets held for more than a year.
Lesson Videos
Basis and Holding Period of Assets Overview
Introduction to Basis and Holding Period of Assets
Costs Included in a Asset's Taxable Basis
Examples of Calculating Tax Basis
Holding Period of Purchased Property
Adjusted Basis
Gifted Property
Inherited Property
Capitalizing vs. Expensing Costs
Basis of Donated Property
Basis and Holding Period of Assets Summary
Basis and Holding Period of Assets - Practice Questions
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