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Topic: cost-basis

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Wednesday, 7/22, 01:14 PM

What is cost basis, and why it decides your tax bill when you sell

When you sell a stock or a house, the tax is not on what you receive but on your gain, and your gain is measured from your cost basis.
Get the basis right and you pay tax only on real profit.
Two rules, the step-up at death and carryover on gifts, can swing the bill by thousands.

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