Purchase price, including commissions and other expenses, used to determine capital gains and capital losses for tax purposes. This can be determined by several methods. For a purchased investment, the tax basis is the amount paid. If inherited, the tax basis is the value of the stock on the date of the original owner's death. If received as a gift, the tax basis is the amount that was originally paid for the investment, unless the market value of the investment on the date the gift was given was lower. also called cost basis or basis.
Related information about tax basis:
- Tax basis - Wikipedia, the free encyclopedia
The tax basis of an asset is generally its cost. Determining such cost may require allocations where multiple assets are acquired together. Tax basis may be ...
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Sep 17, 2012 ... Topic 703 - Basis of Assets. Basis is generally the amount of your investment in a property for tax purposes. Use your basis to figure ...
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The basis one has in capital assets affects how much tax he or she will owe. There can be substantial tax savings with proper planning.
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Definition of tax basis: Purchase price, including commissions and other expenses, ... If inherited, the tax basis is the value of the stock on the date of the original ...
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Definition of tax basis: Value of an asset, used for computing gain or loss when the asset is sold. It usually equals the asset's purchase price less accumulated ...
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Cost Basis or Tax Basis? Whatever you call it, don't fear it. TurboTax helps you figure it out, and makes preparing your tax return easier.
- Tax Basis - Financial Dictionary - The Free Dictionary
In the context of finance, the original cost of an asset less depreciation that is used to determine gains or losses for tax purposes. In the context of investments, ...
- Tax basis - Legal Dictionary - The Free Dictionary
The minimum, fundamental constituents, foundation, or support of a thing or a system without which the thing or system would cease to exist. In accounting, the ...