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  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

Card Set Information

Author:
Anonymous
ID:
8337
Filename:
CFP
Updated:
2010-02-27 17:13:21
Tags:
CFP Income Tax Planning
Folders:

Description:
Income Tax Planning Final review
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