Basis of Assets

Lecture Video Content

Your cost basis in property is usually the purchase price; however, a variety of situations can cause the basis of an asset to be different than its purchase price. This course discusses how to determine the basis you have in assets that are acquired by purchase, gift, inheritance and a variety of other methods.

No CE is awarded for purchase of the manual. If you would like CE, you must purchase the full version of this course and complete course assignments that come with it.

Topics Covered

* Definition of capital vs. non-capital assets
* Gifted & inherited property
* Adjustments to basis including improvements and depreciation
* Basis of stock
* Alternate basis under the AMT

You can purchase the manual for this course for $2.99 at

Pacific Northwest Tax School is approved by the following organizations as a provider of continuing education:

* The IRS
* NASBA QAS (NASBA Sponsor #109290),
* Oregon Tax Board,
* The Texas State Board of Public Accountancy (Texas Sponsor #009794)
* The New York State Board for Public Accountancy (Sponsor License #002479)

You can receive 2 hours of CE for $40 by enrolling in this course at

Terms of use

Pacific Northwest Tax School’s course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media. Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School. As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students shall have twelve months from date of enrollment in any continuing education course, to successfully complete the course and receive their Certificate of Completion.