Income tax basis is important in tax and estate planning. This article examines the concept of income tax basis, how one acquires a basis, how it gets adjusted, etc. The article then examines how the basis is subtracted from the sale price to determine gain or loss. The next article in the series will examine how income tax basis is an important factor in estate planning.
Events & Public Relations Manager at Sterling & Tucker
Terri Owada is the Events and Public Relations Manager for Sterling & Tucker.
Latest posts by Terri Owada (see all)
- Donor Advised Funds: Too Good to Be True? - September 1, 2021
- Changing “Irrevocable” Trusts Through Judicial and Nonjudicial Modification - September 1, 2021
- Changing “Irrevocable” Trusts Through Decanting - September 1, 2021