The original cost of an asset less depreciation that is used to determine gains or losses for tax purposes.
In finance, the original cost of and additions to an asset, less accumulated depreciation, that goes into the calculation of a gain or loss for tax purposes. For investments, the price at which an investment asset was purchased, plus any additions, reinvested dividends, and capital gains that have been realized.
The cost from which your profits or losses are calculated for income tax purposes.
On a life insurance policy, the total premiums paid (less costs for additional benefits). The total premiums less dividends and cash surrenders received determines the policy's gain. On a non-modified endowment contract, the tax basis is recovered before the policy's gain is taxed as income.
See `Basis'. ... Add a comment
The owner's cost of an asset for income and estate tax purposes as determined under the Internal Revenue Code and IRS regulations. (See NF 93-144, "Determining Property Basis," for detailed information and examples.)
The value of your home for tax purposes.
The value of an asset for income tax purposes. This varies by the asset, the means by which it was acquired, its original purchase price, and the amount of its depreciation.
The cost basis of property, such as a home owned for tax purposes.
A taxpayer's cost of property for tax purposes, including cash paid and the principal amount of mortgage debt encumbering the property at the time of acquisition. The propertys tax basis is increased from time to time by additional cash investment in the property, and is decreased from time to time by tax deductions (such as depreciation) relating to the property and by cash withdrawals.
