Cincinnati Bearcats. The American logo in Cincinnati's colors. The Cincinnati Bearcats are the athletic teams that represent the University of Cincinnati. The teams are members of the American Athletic Conference (The American), which from 1979 to 2013 was known as the Big East Conference.
You must reduce the basis of property by the depreciation allowed or allowable, whichever is greater. Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Depreciation allowable is depreciation you are entitled to deduct.
Under the GAAP basis of accounting, the basis of leasehold improvements made is measured at the full cost associated with the improvements. Any lease incentives received is recorded as an element of deferred rent; with the deferred rent liability being relieved against rent expense on the straight line basis over the lease. The issue of depreciation expense highlights numerous differences between the income tax and GAAP bases of accounting including the depreciation methods applied.