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.
Basis is the amount your home (or other property) is worth for tax purposes. When you sell your home, your gain (profit) or loss for tax purposes is determined by subtracting its basis on the date of sale from the sales price (plus sales expenses, such as real estate commissions).