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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)."