Take_________________ for holding period even if the Stock dividends were issued later
original acquisition date
MACRS lowest rate ________
use for 179 deduction
- FMV < basis - GIFT(EXCEPTION), selling at a loss
- ANother exception
if FMV >Cost basis , then take rollover basis even if it’s in the middle
Basis - FMV if selling at a loss
and holding period will be - USE DATE OF GIFT
Bonus depreciation is not allowed for _________
Inheritance, gift, purchase from related parties, Assets converted from personal to business use is not eligible for bonus depreciation.
Labor cost-self is not included in the basis.
To calculate At risk ______
exclude non recourse ending balance
OAA = Tax exempt interest and Inv expense on tax exempt interest
S Corp - pass through losses can reduce LOAN basis but distributions do not
Beg AAA (add or subtract separately stated items)
+ Ord INCOME
+DIV
+ CAP GAIN
- CHARITABLE DEDUCTION
_________________-
ENDING BALANCE
C corp, Foreign corp holding
Zero DRD
