Basis
TaxesThe amount of your investment in property for tax purposes, used to determine gain or loss on sale or exchange.
Example
Example: On a $75,000 salary, understanding basis could save you hundreds or thousands at tax time. For instance, if you are in the 22% marginal bracket, knowing how basis works helps you make smarter decisions about deductions, credits, and withholding. Check your tax picture with our income tax calculator.