Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

Adjusted Basis

n. during the ownership, an asset loses or gains values because of costs of improvements, damage, devaluation, etc. The original cost is therefore, adjusted for all these losses or gains while calculating the worth, and is an adjusted basis. It is used in assessing the worth of a property for such purposes as auctioning, calculation of tax and rebates, etc.

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved