CFP

  1. The improvement of a depreciable asset held for the production income of income must be .......?
    Depreciated
  2. A taxpayer is required to capitalize certain costs when?
    costs are assoiciated the acquistion of an asset.
  3. There is no gain or loss if an asset is sold at a price bwtn donor basis and FMV.


    True or False
    True.
  4. Adjusted basis is the basis after which adjustments?
    • Capitalized costs
    • Depreciation
  5. Accelerated depreciation is calculated using..?
    The MACRS method. Modified Accelerated Cost Recovery System
  6. Realty is depreciated using the....?
    Straight Line Method only
Author
Anonymous
ID
8337
Card Set
CFP
Description
Income Tax Planning Final review
Updated