Capitalized Costs and Depreciation

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6.0 Credits

Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This course provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S Corporations. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.


- Calculate the initial tax basis and adjusted tax basis of business property.

- Recall how to determine the tax basis of self-constructed assets.

- distinguish between deductible repairs and capitalized improvements under new tax provisions.

- Indicate the proper classification of expenditures for tax purposes.

- Recall recent changes in the tax rules related to classification of expenditures.

- Recognize deduction recognition issues related to amortization.

- Recall fundamental points of the MACRS system of depreciation/cost recovery.

- Recognize eligibility for immediate 179 expensing.

Major Topics

Key Topics

- Capital improvements and repair

- Adjusted tax basis

- Tax depreciation and amortization

- First year expensing-IRC section 179

- Depreciation methods

- Form 3115, change in accounting method

Designed For

Public accounting staff and senior associates; Tax professionals in company finance or tax departments