MLchartDataset catalogue

Basis

Term · Law · MLC-T-LAW-000681

The cost of an asset for tax purposes, used to determine capital gains or losses when the asset is sold. It includes the purchase price plus any commissions, legal fees, or other expenses incurred to acquire the asset. Adjustments to basis can occur due to improvements, depreciation, or casualty losses.

Table 1. Record
IdentifierMLC-T-LAW-000681
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000681",
  "term": "Basis",
  "field": "Law",
  "definition": "The cost of an asset for tax purposes, used to determine capital gains or losses when the asset is sold. It includes the purchase price plus any commissions, legal fees, or other expenses incurred to acquire the asset. Adjustments to basis can occur due to improvements, depreciation, or casualty losses.",
  "url": "https://mlchart.com/terminology/law/basis/"
}

Record 480 of 5,441 in Law terminology (MLC-0107). Request the full dataset.