Course Details
hours
3.0
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$13.45
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Capitalization vs. Repair

Tax CE >> California >> Tax Preparer
Study Level:  Basic
Delivery Method:  Online self-study
Provider of Record: WebCE
Tax Year: 2015
Field of Study: Taxes
Prerequisites:  None

Course Description:

This video-based course, presented by well-known author and presenter Larry Gray CPA, provides a comprehensive overview of the issues surrounding recent history and update of the repair vs improvement regulations. Larry breaks down how to define a repair, a unit of property, and  improvement.

Topics covered include:

  • Recent History
  • Defining Unit of Property
  • Defining Materials and Supplies
  • Repair and Improvement Differentiation
  • De Minimis Safe harbor elections
  • Recent regulation updates

Learning Objectives

After completing this course students will be able to:

  • Recognize the IRS definition of a unit of property;
  • Identify the key factors that differentiate materials and supplies from units of property;
  • Identify when to make de minimis safe harbor election;
  • Differentiate between a repair and improvement;
  • Identify key effects of Rev. Proc. 14.
Last Revised: 2/2016