How to Define Cost Basis?

Answer Cost basis is the investment in property you own. You need to know the cost basis to report a gain or loss on property for tax purposes. Property can include real property (land and buildings) as w... Read More »

Top Q&A For: How to Define Cost Basis

How to Determine the Cost Basis of an IRA?

Opening an IRA is one of the best ways workers have to save for the future while saving money on their current taxes. But as with any financial asset, proper record keeping is essential when you ow... Read More »

How do I calculate cost basis?

Calculating Total Cost BasisCalculate the total amount of money committed to an investment. Add any commissions involved in the investment. The answer is the total cost basis.Calculating Cost Basis... Read More »

How to Find Cost Basis?

The first year a person invests in capital assets, he will find that any profits earned will result in taxes due as well. This requirement shouldn't be much of a surprise, but determining the cost ... Read More »

What is the cost basis for depreciation?

According to the IRS, "the basis of property you buy is usually its cost." The total sum that you paid for property, including cash deposits and total loan principle, comprises your cost basis for ... Read More »