Topics covered include:General Tax Basis Rules -- definition of "cost" basis; Special Rules re: basis of property received by gift or bequest; Rules re: allocation of basis when not all the property is sold; Basis effects of depreciation, including failing to claim allowable depreciation; Basis of property received in exchanges, including non-recognition exchanges. Upon completing this curse, you should be able to: Describe general tax basis rules and outcome of common "cost" basis situations; Identify rules that apply in determining how to allocate basis, or determine which basis to use, when not all of a taxpayer's property is sold; Explain the special rules that apply to property received by gift or inheritance; Recognize the effects of depreciation and non-recognition exchanges on calculating basis.