![Cost Basis: Tracking Your Tax Basis“Basis” is one of the most important words in the lexicon of taxes. Sometimes you see it by itself. Sometimes it’s called “cost basis” or “adjusted basis” or “tax basis.” Whatever it’s called, it’s important to...](https://64.media.tumblr.com/92ff282df870263ecd456b992a6bde0e/tumblr_pdsn5rZbkr1u1bpvro1_400.jpg)
Cost Basis: Tracking Your Tax Basis
“Basis” is one of the most important words in the lexicon of taxes. Sometimes you see it by itself. Sometimes it’s called “cost basis” or “adjusted basis” or “tax basis.” Whatever it’s called, it’s important to calculating the amount of gain or loss when you sell an asset. To find out more about this important tax concept, see the full TurboTax article.