A shareholder's net DTIR is 10% of the adjusted tax basis
of the QBAI, less an interest expense amount.
(48) When it applies, with few exceptions, (49) an asset's adjusted tax basis
in a donee's hands is the same as it was in the donor's.
The holding period and adjusted tax basis
from the original shares will roll over into the newly acquired QSBS, effectively deferring the federal income tax recognition event.
The amount of the loss would be the adjusted tax basis
of the property that is abandoned or destroyed.
The tax basis of the property acquired in the [section]1031 exchange is the same as the adjusted tax basis
of the property given up.
Instead, it is adjusted during the period of ownership to reflect certain real or artificial additions to, and returns of, the initial "investment." (For example, tax basis is increased for such things as improvements; it is reduced for such things as allowable depreciation or depletion.) When adjusted in this manner, an individual's tax basis at a particular time is often referred to as his "adjusted tax basis
The aggregate gross assets (defined generally as cash plus the aggregate adjusted tax basis
of other property) held by the small business must not exceed $50,000,000 at any time before or immediately following the investment by the investor (including amounts received by the small business from the investor).
(22) The trust would acquire an outside adjusted tax basis
in the partnership interest under I.R.C.
(29) The adjusted tax basis
of an asset is, again, determined in the owner's functional currency, using the spot or historical exchange rate, as appropriate, depending on the asset.
The tax gain is determined based on a complex procedure set forth in the MITL which in general terms consists of deducting the adjusted tax basis
of the stock from the purchase price.
When an investor sells, exchanges or redeems a mutual fund share, the gain or loss generally equals the amount realized (sales price less expenses of sale) minus the share's adjusted tax basis
(IRC section 1001).
Adjusted Tax Basis
: The original cost of real estate plus any adjustments or capital expenditures for improvement of the property, minus any depreciation taken to date.