tax basis


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.

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I wanted to know the tax basis because it included commissions and that was an area that I worked in all the time.

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My tax basis of my fixed asset when i disposed of it was the gross costs less the amount of tax depreciation i had taken under MACRS through the date of disposition.

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The new house that you want to buy has a tax basis much higher then you may be able to afford because you have to look at the bigger picture of what you actually own and what has been given to you and what you can afford.

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