tax basis
Definition
Value of an asset, used for computing gain or loss when the asset is sold. It usually equals the asset's purchase price less accumulated depreciation. For example, tax basis of an asset purchased for $100,000 with to date depreciation of $30,000 is $70,000. If the asset is sold for $150,000, the capital gains tax will be computed on $80,000.
tax basis is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
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