Before a taxpayer can figure out the gain or loss on the sale, exchange, or other disposition of property or figuring allowance depreciation, depletion, or amortization, a taxpayer must usually make certain adjustments to the cost of the property. Once these adjustments are made, the amount remaining is the adjusted basis. Below is a list of the specific items that can increase or decrease the basis of property for gain or loss calculations. Items that Increase Basis You can increase … Read more →