Business / Real Estate / Adjusted Basis: The original cost basis of a property reduced by certain deductions and increased by certain improvement costs. The original basis determined at the time of acquisition is reduced by the amount of allowable depreciation or depletion allowances taken by the taxpayer, and by the amount of any uncompensated property losses suffered by the taxpayer. It then increases by the cost of capital improvements plus certain carrying costs and assessments. The amount of gain or loss recognized by the taxpayer upon sale of the property is determined by subtracting the adjusted basis on the date of sale from the adjusted sales price.
Basis Noun Synonyms: foundation, base, bottom, heart, footing, principle, underpinning, infrastructure
Business / Agriculture / Basis: The difference between the current spot price (or cash price) of a commodity and the price of the nearest futures contract for the same or a related commodity. Basis is usually computed in relation to MORE
Business / Finance / Formula Basis: The form required by the NASD to report equity transactions after the market's regular hours. MORE