What BASIS means: The amount assigned to an asset from which gain or loss is determined for income tax purposes when the asset is sold. For assets acquired by purchase, basis is cost. Special rules govern the basis of property received by virtue of another's death or by gift, the basis of stock received on a transfer of property to a controlled corporation, the basis of the property transferred to the corporation, and the basis of property received upon the liquidation of a corporation.
- Definition Basis Of Stock:
- Dictionary amount paid for the stock. If the stock is received as a gift, basis is generally the basis of the previous owner or the fair market value when received. The basis of inherited stock is usually its basis definition.
- Definition Bankruptcy:
- Dictionary For tax purposes, a formal petition filed in a Bankruptcy Court under Chapter 7, 11, 12, or 13 of Title 11 of the U.S. Code basis explain.
- Definition Boot:
- Dictionary a type not included in the definition of qualifying property for purposes of structuring a nontaxable exchange. The receipt of boot will cause an otherwise tax-free transfer to become taxable to the basis what is.
- Definition Bearer Bond:
- Dictionary A bond that has no owner's name registered on the books of the issuing company and is therefore payable to the holder basis meaning.
How works Basis meaning in Tax definitions B .
