Capitalized Costs and Depreciation: Key Issues and Answers

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. TOPICS DISCUSSED  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


When you complete this course you will be able to:
  • 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.

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Designed For

Public accounting staff and senior associates, tax professionals in finance or tax


American Institute of CPAs

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