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California ~ Personal Income Tax: CPA’s Records Used to Establish Basis of Real Property Sold

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CCH Tax Day Report The California Board of Equalization (BOE) established the personal income tax adjusted basis of real property sold by taxpayers based on information provided by the taxpayers’ certified public accountant (CPA), who tracked all costs and expenses of construction on the property and maintained bank and other financial records, receipts, and information. […]

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