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https://taxmap.irs.gov/taxmap2016/pubs/p946-005.htm
The basis of property you buy is its cost plus amounts you paid for items such as sales tax (see Exception below), freight charges, and installation and testing fees. The cost includes the amount you pay in cash, debt obligations, other property, or services.
https://www.bizfilings.com/toolkit/research-topics/managing-your-taxes/federal-taxes/determining-basis-is-first-step-in-depreciation-computation
The depreciable basis is equal to the asset's purchase price, minus any discounts, and plus any sales taxes, delivery charges, and installation fees. For real estate, you can also include costs of legal and accounting fees, revenue stamps, recording fees, title abstracts/insurance, surveys, and real estate taxes assumed for the seller.
https://quizlet.com/163134780/reg-6-depreciation-flash-cards/
The depreciable basis of property is the amount paid for it in cash or the FMV of other property used in the exchange, plus expenses connected with the purchase. Therefore the purchase price, plus delivery charges, installation fees and sales tax equal the depreciable basis of the equipment (55,000 + 725 + 300 + 3,400) = $59,425.
https://www.accountingcoach.com/blog/installation-labor-new-asset
The definition of an asset's cost is all costs that are necessary to get an asset in place and ready for use. Therefore, the cost of the installation labor (wages and related fringe benefits) is part of the cost of the asset (and not an immediate expense of the accounting period).
https://www.investopedia.com/terms/o/originalcost.asp
Feb 07, 2018 · The purchase also involves $1,000 in fees, $700 in shipping and delivery costs, and $3,000 for installation and warranty. The original cost of …Author: Will Kenton
https://www.investopedia.com/terms/d/depreciatedcost.asp
Jun 10, 2019 · Depreciated cost is the value of a fixed asset net of all accumulated depreciation that has been recorded against it. It allows for the books to always carry an asset at its current worth, and to measure cash flows based on that asset in proportion to the value of the asset itself.
https://www.irs.gov/taxtopics/tc703
Feb 14, 2020 · Cost includes sales tax and other expenses connected with the purchase. Your basis in some assets isn't determined by the cost to you. If you acquire property other than through a purchase (such as a gift or an inheritance), refer to Publication 551, Basis of Assets for more information. If you acquired your property from an individual who died in 2010, special rules may apply to your calculation of basis.
https://www.gaodun.com/q/300q80
Starr, a self-employed individual, purchased a piece of equipment for use in Starr’s business. The costs associated with the acquisition of the equipment were
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