Deferred Tax Assets/Liabilities like, accounting, concerning, problems

water2012

Hey guys,

I'd like to solidify my understanding of this concept. I've been having a bit of trouble getting my head fully wrapped around which items are tax assets and which are tax liabilities. I know it's the opposite for revenue and expenses. Also, the tax base needs to be lower than the accounting. I think I'm getting confused on the latter part. I'd appreciate any suggestions you may have concerning how you approach those problems.

Thanks again!

eagles_dare13

This is how i remember what is a DTA and what is a DTL

For Assets:

TB > CV DTA
TB < CB DTL

For Liabilities:

TB > CV DTL
TB < CV DTA

i just write that out whenever I come to a deferred tax question.

MonkeyBusiness

Thanks. I'll try to incorporate that.