Do
you take your cost basis into account
when it's time to sell an asset or investment? When you sell an asset or investment, your cost basis--or the amount you originally
paid for it-is subtracted from the sales price to determine your capital gain on the sale. If your last tax return included some surprises on capital gains you incurred
last year-and the related
taxes-then you're probably
aware
of the need to plan ahead when buying or selling
assets or investments.
It's even more important in light of some recent tax law changes, including
the new tax on net investment income.
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