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Tax basis adjustmentsQuestion What can cause the basis of an asset to vary?
Answer Some items increase basis; others decrease it, so it's important to keep track of changes in basis. Here are some examples of changes in basis:
- Depreciation deductions or first-year expensing - Casualty deductions relating to the property - Certain tax credits - Capitalized costs for improvements, for example on real estate 
Brain Trust contributor:
Author of J.K. Lasser's Small Business Taxes 2007
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