cost basis

cost basis
cost basis see basis 3

Merriam-Webster’s Dictionary of Law. . 1996.

cost basis
n.
The amount a taxpayer paid for an asset.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


cost basis
See: basis
Category: Personal Finance & Retirement → Taxes
Category: Real Estate & Rental Property → Selling a House
Category: Real Estate & Rental Property → Buying a House

Nolo’s Plain-English Law Dictionary. . 2009.

cost basis
USA
The basis of purchased property is usually its cost plus certain other expenses (such as sales tax, excise taxes, recording fees, capitalized legal & accounting fees, and certain other capitalized costs related to buying or producing property). This is referred to as a cost basis. Cost is the amount paid in cash, debt obligations, other property, or services. If property is acquired by gift, inheritance, in a tax-free reorganization or in some way other than purchasing it, the property will have a basis other than its cost (for example, see carryover basis).
See also

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


cost basis
=>> basis.

Webster's New World Law Dictionary. . 2000.

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Look at other dictionaries:

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  • adjusted cost basis — For income tax purposes, original cost plus additions to capital less depreciation results in the adjusted cost basis. Herder v. Helvering, 70 U.S. App.D.C. 287, 106 F.2d 153, 162 …   Black's law dictionary

  • adjusted cost basis — For income tax purposes, original cost plus additions to capital less depreciation results in the adjusted cost basis. Herder v. Helvering, 70 U.S. App.D.C. 287, 106 F.2d 153, 162 …   Black's law dictionary

  • basis — ba·sis / bā səs/ n pl ba·ses / ˌsēz/ 1: something (as a principle or reason) on which something else is established the court could not imagine any conceivable basis for the statute see also rational basis 2: a basic principle o …   Law dictionary

  • cost — n 1: the amount or equivalent paid or charged for something 2 pl: expenses incurred in litigation; esp: those given by the law or the court to the prevailing party against the losing party Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

  • Basis — may refer to* Basis future, the value differential between a future and the spot price * Basis (options), the value differential between a call option and a put option * Cost basis, in the calculation of capital gains * Basis (crystal structure) …   Wikipedia

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