Letter B
tax
Basis Carryover
The treatment under which the recipient of gifted property takes the donor's basis (with adjustments) rather than a stepped-up basis, preserving built-in gain.
Related terms
More legal terms starting with B
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.