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.
Latest posts by Charlie Amen (see all)
- Trust Distribution Standards May Be Very Broad - July 22, 2021
- Estate Planning Conference Discusses “For the 99.5% Act,” SECURE, and More - July 20, 2021
- ABLE Accounts Complement Special Needs Trusts - July 15, 2021
