ch 10 powerpoint

ch 10 powerpoint - Chapter 10 Property Transactions:...

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1 Chapter 10 Property Transactions: Property Transactions: Determination of Basis and Gains and Losses ©2011 CCH. Al Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 1 800 248 3248 www.CCHGroup.com 1. General Rule for Any Type of Disposition 2. Seller's Amount Realized 3. Adjusted Basis 4. Cost of Improvements Chapter 10 Exhibits CCH Federal Taxation Comprehensive Topics 2 of 36 5. Lump-Sum Purchases of Several Properties 6. Selling Taxable Stock Dividends—Rules 7. Selling Taxable Stock Dividends—Example 8. Selling Identical, Nontaxable Stock Dividends—Rules 9. Selling Identical, Nontaxable Stock Dividends—Example Chapter 10, Exhibit Contents A 10. Selling Nonidentical, Nontaxable Stock Dividends—Rules 11. Selling Nontaxable Stock Rights Less Than 15% FMV Original Stock—Rules 12. Selling Nontaxable Stock Rights Less Than 15% FMV Original Stock— Example Chapter 10 Exhibits CCH Federal Taxation Comprehensive Topics 3 of 36 13. Selling Nontaxable Stock Rights 15% FMV Original Stock 14. Selling Nontaxable Stock Rights 15% FMV Original Stock— Example 15. Exercising Stock Rights—Tax Treatment for New Stock 16. Exercising Stock Rights—Example Chapter 10, Exhibit Contents B
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2 17. Selling Gifts by Donees 18. Selling Property by Related Parties 19. Selling Personal-Use Conversions 20. Selling Inherited Property Chapter 10 Exhibits CCH Federal Taxation Comprehensive Topics 4 of 36 21. Selling Common Stock 22. Wash Sales—General Rules 23. Wash Sales—Example Chapter 10, Exhibit Contents C General Rule for Any Type of Disposition Amount realized Adjusted basis of all consideration given = Realized gain or loss CCH Federal Taxation Comprehensive Topics 5 of 36 Recognized (i.e., taxable) gain or loss or Deferred (i.e., postponed) gain or loss or Exempt (i.e., tax-free) gain or disallowed loss Chapter 10, Exhibit 1 Seller's Amount Realized Cash received + Fair market value (FMV) of property received + FMV of services received CCH Federal Taxation Comprehensive Topics 6 of 36 + Liabilities of seller assumed by buyer (i.e., “debt relief”) Selling expenses (includes brokerage, advertising, and legal fees paid by seller) = Amount realized Chapter 10, Exhibit 2
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3 Adjusted Basis Cost (or other adjusted basis) on date of acquisition + Cost of improvements + Buying expenses, including commissions, legal, title search, surveys and appraisal fees paid at date of original purchase Depreciation (allowable depreciation reduces basis, even if not taken) CCH Federal Taxation Comprehensive Topics 7 of 36 _ Insurance proceeds received on partial destruction casualties Deductible loss on partial destruction casualties + Capital gain on partial destruction casualties = Adjusted basis Chapter 10, Exhibit 3 Cost of Improvements Repair and Maintenance Deductions vs. Capital Expenditures Tax Treatment Deductible Unless Personal Use Capitalized Roofing Patching leaks Adding new roof Wiring Mending Major replacement Plumbing
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This note was uploaded on 12/02/2011 for the course ACCOUNTING 4001 taught by Professor Nathanielbell during the Spring '11 term at FIU.

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ch 10 powerpoint - Chapter 10 Property Transactions:...

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