Cost Basis

An amount attributed to an assetThe entire property of a person, association, corporation, or estate applicable or subject to the payment of debts. for income taxA tax on income. purposes; used to determine gainA profit, benefit, or value increase. or lossThe occurrence of the event for which insurance pays. on sale or transferChange of jurisdiction over real property from one Federal agency or department to another, including; used to determine the valueThe terms "full value", "full cash value", "cash value", "actual value" and "fair market value" mean of a giftA sum of money, including amounts from a relative or a grant from the borrower's employer, a municipality,t