Sentences with phrase «improvements less depreciation»

The adjusted basis is determined by the original purchase price plus improvements less depreciation.

The amount of gain is measured as the difference between the amount received by the taxpayer on the sale less the original purchase price, adjusted through the date of the sale (purchase price plus any improvements less depreciation taken).

Not exact matches

Depreciation, a tax benefit of income property, is determined by the improvement value at the time of purchase or at the conversion to a rental whichever is less.

In general, the adjusted tax basis of a principal residence is the cost of the property (i.e., what you paid for the property when you first purchased it), plus amounts paid for capital improvements, less any depreciation and casualty losses claimed for tax purposes.

Original purchase price plus some items found on HUD - 1 plus improvements that you capitalized over the years plus any selling costs less depreciation that was allowed regardless of whether you deducted it or not.

Basis is the purchase price plus any capital improvements, plus purchase costs, less depreciation taken or allowed.