In the USA, the difference between the gross income of a taxpayer and the adjustments to income, which is an essential figure for multiple tax computations.
The adjusted tax basis is the value used for calculating gain or loss upon the sale or disposition of an asset, reflecting adjustments for various tax-related incentives, improvements, or expenses.
Tax basis refers to the value used for tax purposes to determine the gain or loss on the sale or transfer of an asset, and it includes various adjustments over time.
