Basis

Business / Taxes / Basis: Basis is the total cost of buying an investment or other asset, including the price, commissions, and other charges. If you sell the asset, you subtract your basis from the selling price to determine your capital gain or capital loss. If you give the asset away, the recipient’s basis is the same amount as yours. But if you leave an asset to a beneficiary in your will, the person receives the asset at a step-up in basis, which means the basis of the asset is reset to its market value as of the time of your death. When your investment is in real estate, basis is generally called cost basis.

Other Words for Basis

Basis Noun Synonyms: foundation, base, bottom, heart, footing, principle, underpinning, infrastructure
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Accrual Basis

Business / Accounting / Accrual Basis: Gross income is recognized when earned. MORE

Fare Basis

Life Style / Travel / Fare Basis: Conditions, including service class and ticketing provisions, that determine a fare. Fare basis is designated by identifying letters and/or numbers on a ticket. MORE

Cash Basis Accounting

Business / Taxes / Cash Basis Accounting: Cash basis accounting is one of two ways of recording revenues and expenses. Using this method, a company records income on its books when it receives a payment and expenses when it makes a payment. I MORE

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