What does exsanguination mean? Definitions for exsanguination Here are all the possible meanings and translations of the word exsanguination.
Basis is the value used to determine profit or loss when property is sold for assessing income tax and capital gains tax. Under tax law, basis means the cost of property after adjusting the depreciation.
What is basis? The Internal Revenue Service defines basis generally as the amount of one's investment in a property for tax purposes. It is used to figure depreciation, amortization, depletion, casualty losses, and any gain or loss on the sale, exchange or other disposition of the property. Unlike a C corporation, each year the stock and debt basis of an S corporation may change based upon the S corporationâs operations and financing arrangements.