CCH Axcess Tax

Cost/Other Basis

Enter the cost or other basis for the asset.

The following entries are subtracted from "Cost/Other Basis" to arrive at depreciable basis:

Current year Section 179 expense
Bonus depreciation
Commercial Revitalization/Disaster area clean-up & demolition expenses deduction
Prior year Section 179 expense
ITC basis adjustment
Current year ITC and
Salvage, if applicable

The federal "Cost/Other Basis" entry is also used as a default when computing AMT, ACE, and state if different depreciation when entries are not present for "AMT Basis (if different)", "ACE Basis (if different)", and entries of "Cost/Other Basis," "AMT Basis (if different)," and "ACE Basis (if different)."

Note: When the cost entered is 0.00 (zero) the item will not print on Form 4562 or the federal detail unless the accountant force is used.