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1、spi6235x_ch09_000-055.inddPageii12/02/132:35AMf-499/201/MH01795/spi6235x_disk1of1/007786235x/spi6235x_pagefileschapterPropertyAcquisition9andCostRecoveryLearningObjectivesUponcompletingthischapter,youshouldbeableto:LO9-1Explaintheconceptofbasisandadjustedbasisan
2、ddescribethecostrecoverymethodsusedunderthetaxlawtorecoverthecostofpersonalproperty,realproperty,intangibleassets,andnaturalresources.LO9-2Determinetheapplicablecostrecovery(depreciation)life,method,andconventionfortangiblepersonalandrealpropertyandcalculatethed
3、eductionallowableunderbasicMACRS.LO9-3Explaintheadditionalspecialcostrecoveryrules(§179,bonus,listedproperty)andcalculatethedeductionallowableundertheserules.LO9-4Explaintherationalebehindamortization,describethefourcategoriesofamortizableintangibleassets,andcal
4、culateamortizationexpense.LO9-5Explaincostrecoveryofnaturalresourcesandtheallowabledepletionmethods.spi6235x_ch09_000-055.inddPage112/02/132:35AMf-499/201/MH01795/spi6235x_disk1of1/007786235x/spi6235x_pagefilesStorylineSummaryTaxpayer:TetonMountaineeringTechnolo
5、gy,LLC(Teton)—acalendar-yearsingle-memberLLC(treatedasasolepro-prietorshipfortaxpurposes)Location:Cody,WyomingPresident/SteveDallimoreFounder:CurrentTetonmustacquirepropertytosituation:startmanufacturingoperationsandwantstounderstandthetaxconsequencesofpropertya
6、cquisitions.woyearsagowhileclimbingtheBlackTIceCouloir(pronounced“cool-wahr”)inGrandTetonNationalPark,SteveDallimoreandhisbuddygotintoadesperatesituation.TheclimbersplannedtomovefastandlightandtobehomebeforeanapproachingstormreachedtheTeton.Butjustshyofthesummit
7、,climbingconditionsforcedthemtoturnback.Huddledinawetsleepingbaginadarksnowcavewaitingforthetempesttopass,Stevehadanepiphany—adesignforabetterice-climbingtool.Sincethatmoment,Stevehasbeenquietlyconsumedwithmakinghisdream—designingandsellinghisownlineofclimbingeq
8、uipment—areality.Althoughhiscurrentsalescareerischallengingandfinanciallyrewarding,Stevehastoooftenfoundhimselfwatchingtheclockanddreamingofamorefulfillingandadventur
