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what can be included in cost basis of property

1Answers
DiGabriela
11/28/2025, 06:51:52 AM

The basis of a property you purchase is generally the amount you paid for it, along with additional expenses directly tied to acquiring or producing the asset. This typically includes items such as sales and excise taxes, recording fees, and any legal or accounting costs that must be capitalized. Altogether, these components form what is known as the property’s cost basis.

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