NALT of depreciable property Flashcards
1
Q
Buyer’s UCC if transfer at capital cost?
A
New capital cost (what transferring for)
2
Q
Buyer’s capital cost if transfer at capital cost?
A
New capital cost
3
Q
Buyer’s UCC if transfer at >seller’s capital cost?
A
A+1/2*(B-A)
A - seller’s OG cap cost
B - buyer’s new cap cost
4
Q
Buyer’s capital cost if transfer at >seller’s capital cost?
A
New capital cost
5
Q
Buyer’s UCC if transfer at <seller’s capital cost?
A
New capital cost
6
Q
Buyer’s capital cost if transfer at <seller’s capital cost?
A
seller’s OG capital cost
7
Q
Buyer’s UCC if gifted to spouse?
A
Seller’s UCC (as if still OG’s)
8
Q
Buyer’s capital cost if gifted to spouse?
A
Seller’s old capital cost
