"...nobody does a better job than Nolo." - USA Today
Nolo Logo

Since 1971, Nolo's goal has been simple: Make America's legal system accessible to everyone. Our website, books, software, online legal forms and lawyer directory help millions of individuals, businesses and nonprofits solve their legal problems each year.

Small text sizeMedium text sizeLarge text size Print this page
 

Nolo’s Plain-English Law Dictionary

Legal Dictionary Home

basis
For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the property, adjusted to reflect improvements made or damage incurred while you own the property. (See also: adjusted basis, carryover basis, stepped-up basis)
Dictionary

Search the whole dictionary:

Bestsellers

Browse all books, software & legal forms >

Find A Lawyer

Enter zip or city, state ("Boston, MA")

Attorney Profiles

Attorneys: Get Listed

Advertisement

Advertise Here

Nolo Partner

This service is operated by JustAnswer.
Nolo provides no guarantee of the information provided.