Partnerships
Adjusted basis & gain
Separate an asset’s adjusted tax basis from its net sale proceeds in a simple purchased-asset example.
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Sources to check
IRS Publication 551 · Basis of Assets ↗Illustrative gain or loss
$35,000
Adjusted tax basis$90,000
Net amount realized$125,000
What this model assumes
- Simple purchased-asset basis model. Depreciation reductions generally include amounts allowed or allowable.
- Excludes debt relief in proceeds, inherited or gifted basis, wash sales, exclusions, loss disallowance, recapture, installment sales, and tax rate determination.
Educational summaries, not individualized tax or legal advice. Check the source, applicable tax year, effective dates and subsequent developments. External sources are independent of Syso.tax.
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