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Basics of Basis


When buying or selling assets, the basis of those items is critical to the future calculation of capital recovery, gain or loss realization and recognition, and depreciation. This course provides the tools to determine an asset’s initial basis and adjustments to that basis. Assets discussed are tangible or intangible property, including real and personal property, stocks, bonds, and mutual funds, as well as partnership and S corporation interests.


Upon completion of this course, you will be able to:

  • Identify basis based on various means of acquisition including purchase, creation, gift, and inheritance.
  • Identify payments capitalized as part of basis and those expensed as a current operating expense.
  • Calculate the basis of stocks.
  • Calculate the basis of mutual funds using the allowable methods.
  • Apply the timing and ordering of basis adjustments.
  • Differentiate between a partner’s outside and inside basis in a partnership.
  • Recognize the difference between a shareholder’s stock basis and debt basis in an S corporation.

Course Details

This course includes e-book and interactive module. CPE is issued after exam is successfully completed.


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