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Federal Tax Course –  Lesson 7

Introduction 701
Cost Basis 702
Property Received in Exchange for Services or Other Property 703
Basis of Property Acquired Through a Tax-Free Exchange 704
Basis of Property Acquired by a Lump-Sum Purchase 705
Purchase and Sale of a Going Business 706
Basis of Property Acquired by Gift 707
Gain on Property Acquired by Gift 708
Loss on Property Acquired by Gift 709
Property Acquired by Gift before 1921 710
Adjustment for Gift Taxes Paid 711
Transfers of Property Between Spouses 712
Basis of Inherited Property 713
Basis of Intangible Assets 714
Basis of Stock Options 715
Basis of Property Held for Personal Use 716
Basis of Property Converted to Business Use 717