The basis is the amount you may subtract from the sale price of an asset to determine your taxable gain. Typically, the basis is the amount you paid for an asset. When you are given or gifted an asset from someone else, your basis in the property is the same as what it was for the original owner/purchaser.
Easily Save Clients Thousands in Taxes
Scan client returns. Uncover savings. Export a professional tax plan. All in minutes.
Let us show you how you could save your clients thousands of dollars and make tax planning easier than ever with Corvee.
Request a Demo 2.0 (Tax advisor or accountant)
"*" indicates required fields