Statutory Definition
Section 1012 of the Internal Revenue Code defines “basis” as a taxpayer’s cost in acquiring property, except as provided in Sections 1001-1092. Section 1016 then lists 27 adjustments to this basis. Generally, improvements to property increase basis while depreciation deductions decrease it.
Read more about this topic: Adjusted Basis
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“... if, as women, we accept a philosophy of history that asserts that women are by definition assimilated into the male universal, that we can understand our past through a male lensif we are unaware that women even have a historywe live our lives similarly unanchored, drifting in response to a veering wind of myth and bias.”
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