Akademik

ba·sis /'bā-səs/ n pl ba·ses /-ˌsēz/

1: something (as a principle or reason) on which something else is established

the court could not imagine any conceivable basis for the statute see also rational basis

2: a basic principle or method; esp: the principle or method by which taxable income is calculated

◇ The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer.

ac·cru·al basis: a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made – called also accrual method;

cash basis: a method of accounting in which income and expenses are recorded in the period when payment is received or made – called also cash method;

3: the value (as cost or fair market value) of an asset used in calculating capital gains or losses for income tax purposes

adjusted basis: the basis of an asset increased or decreased to reflect changes in value (as through improvement or depreciation)

car·ry·over basis /'kar-ē-ˌō-vər-/: the basis of a donated or transferred asset that is equal to the basis of the asset when it was in the hands of the donor or transferor

◇ Carryover basis is generally applied to gifts, transfers in trust, and property acquired from a decedent.

cost basis: the basis of an asset equal to the amount paid for the asset plus other acquisition costs (as a brokerage fee)

stepped–up basis /'stept-'əp-/: a basis (as a carryover or cost basis) that is increased (as to fair market value) by other than an improvement or depreciation adjustment

sub·sti·tut·ed basis: the basis of property received in exchange for property of a like kind that is equal to the basis of the property given with adjustments for additional consideration received or gains and losses realized