5.15 Finding Your Cost

In figuring gain or loss, you need to know the “unadjusted basis” of the property sold. This term refers to the original cost of your property if you purchased it. The general rules for determining your unadjusted basis are in 5.16. Basis for property received by gift or inheritance is in 5.17; rules for surviving joint tenants are in 5.18. Keep in mind that you have to adjust this figure for improvements to the property, depreciation, or losses (5.20).