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adjusted basis
(redirected from adjusted tax basis)

    Also found in: Financial, Wikipedia 0.01 sec.

adjusted basis n. in accounting, the original cost of an asset adjusted for costs of improvements, depreciation, damage and other events which may have affected its value during the period of ownership. This is important in calculating capital gains for income tax purposes since the adjusted basis is higher than the original price and will lower capital gains taxes. (See: basis, income tax)
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Based on this ruling, the debtor may have the following income tax consequences: * If the collateral and cash transferred are worth less than the nonrecourse portion of the debt, a gain or loss is realized on the difference between the nonrecourse debt and the sum of cash and the adjusted tax basis of the collateral.
Tax planning for troubled debt by Dillon, Paul; Eagan, Michael / The Tax Adviser
Keep in mind, however, that if you own an interest in a pass-through entity, you can only deduct business losses only to the extent of your adjusted tax basis, which isn't necessarily equal to the balance in your capital account.
Making the most of business losses in turbulent times by Wieder, Marc / Real Estate Weekly
The developer has an ordinary loss equal to the difference between the developer's adjusted tax basis in the real estate and the fair market value of such real estate.
Accelerating losses with an assignment for the benefit of creditors by Wells, Thomas O.; Schortz, Joseph R. / Florida Bar Journal
 
 
 
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