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I
Ira65
February 19, 2021
Question

This sale requires an adjustment to the basis of the asset. What does this mean?

  • February 19, 2021
  • 1 reply
  • 0 views
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1 reply

ColeenD3
ColeenD3
February 20, 2021

Where are you getting this message? What are you selling?

 

Without knowing anything apart from the question being asked, it means that the initial basis, probably its cost, needs an adjustment due to a circumstance that happened after purchase.

 

Please see the possible adjustments, both increases and decreases, that affect the basis of an asset. PUB 551

 

 

 

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