transferred basis
USA
carryover basis, Also known as transferred basis.
Property with a basis determined in whole or in part by reference to the basis in the hands of a donor, grantor or other transferor. For example, in a tax-free reorganization that is structured as an asset acquisition, the purchasing corporation takes a carryover basis in the target company's assets (in other words, the purchasing corporation's basis in the target company's assets is the same as the basis that the target company had in those assets).
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • basis — ba·sis / bā səs/ n pl ba·ses / ˌsēz/ 1: something (as a principle or reason) on which something else is established the court could not imagine any conceivable basis for the statute see also rational basis 2: a basic principle o …   Law dictionary

  • Transferred intent — (or transferred malice in English law) is a doctrine used in both criminal law and tort law when the intention to harm one individual inadvertently causes a second person to be hurt instead. Under the law, the individual causing the harm will be… …   Wikipedia

  • basis — 1570s, bottom or foundation (of something material), from L. basis foundation, from Gk. basis a step, stand, base, that whereon one stands, from bainein go, step (see COME (Cf. come)). Transferred and figurative senses (of immaterial things) are… …   Etymology dictionary

  • basis, stepped-up — n. A basis that is increased to a certain level at a particular date, usually in property transferred through inheritance. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • basis — Fundamental principle; groundwork; support; the foundation or groundwork of anything; that upon which anything may rest or the principal component parts of a thing. Accounting. Term used in accounting, especially in tax accounting, to describe… …   Black's law dictionary

  • basis — Fundamental principle; groundwork; support; the foundation or groundwork of anything; that upon which anything may rest or the principal component parts of a thing. Accounting. Term used in accounting, especially in tax accounting, to describe… …   Black's law dictionary

  • Cost basis — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • Carryover basis — occurs when a property transfer also results in a transfer of the transferor s basis in the property. The transferor s basis in the property carries over to the transferee. Tax law of United States of AmericaCarryover basis, also referred to as a …   Wikipedia

  • carryover basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. carryover basis …   Law dictionary

  • Carryover Basis — A method for determining the tax basis of an asset when it is transferred from one individual to another. Carryover basis is often used when property is given as a gift to someone else and is the method for determining the basis for future tax… …   Investment dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.