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Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/(saves) taxes on a capital gain /(loss) that equals the amount realized on the sale minus the sold property's basis.
Tax basis of property received by a U.S. person by gift is the donor's tax basis of the property. If the fair market value of the property exceeded this tax basis and the donor paid gift tax, the tax basis is increased by the gift tax. This adjustment applies only if the recipient sells the property at a gain. [7]
Basis of futures, the value differential between a future and the spot price; Basis (options), the value differential between a call option and a put option; Basis swap, an interest rate swap; Cost basis, in income tax law, the original cost of property adjusted for factors such as depreciation; Tax basis, cost of an asset
bases / ˈ b eɪ s ɪ z / noun plural of base / ˈ b eɪ s iː z / noun plural of basis: bass / ˈ b eɪ s / noun low in pitch / ˈ b æ s / noun a fish blessed / ˈ b l ɛ s ɪ d / adjective having divine aid / ˈ b l ɛ s t / verb past tense of bless: bow / ˈ b oʊ / noun a stringed weapon, or the initiator of sound in some stringed musical ...
In tax accounting, adjusted basis is the net cost of an asset after adjusting for various tax-related items. [1] Adjusted Basis or Adjusted Tax Basis refers to the original cost or other basis of property, reduced by depreciation deductions and increased by capital expenditures. Example: Muhammad buys a lot for $100,000. He then erects a retail ...
In accounting, a basis of accounting is a method used to define, recognise, and report financial transactions. [1] The two primary bases of accounting are the cash basis of accounting, or cash accounting, method and the accrual accounting method. A third method, the modified cash basis, combines elements of both accrual and cash accounting.
A base (or basis) B for a topological space X with topology T is a collection of open sets in T such that every open set in T can be written as a union of elements of B. [3] [4] We say that the base generates the topology T. Bases are useful because many properties of topologies can be reduced to statements about a base that generates that ...
A plural base title can also redirect to an article (Bookends redirects to Bookend; Faces redirects to Face). If separate primary topics are determined, add a hatnote from the plural page to the singular form (or vice versa). Sometimes, what appears to be a plural form may also be a separate word, which can influence the primary topic decision.