BASIS definition: 1. the most important facts, ideas, etc. from which something is developed: 2. a way or method of…. Learn more.
Topic no. 703, Basis of assets Basis is generally the amount you paid for the asset. Use your basis to figure depreciation, amortization, depletion, casualty losses, and any gain or loss on the sale, exchange, or other disposition of the property. In most situations, the basis of an asset is its cost to you.
: the bottom of something considered as its foundation. Fruit juice constitutes the basis of jelly. He is on a first-name basis with his customers.
a basic fact, amount, standard, etc., used in making computations, reaching conclusions, or the like: The nurse is paid on an hourly basis. He was chosen on the basis of his college grades.
The basis of something is its starting point or an important part of it from which it can be further developed.
BASIS definition: the bottom or base of anything; the part on which something stands or rests. See examples of basis used in a sentence.
The lowest of the three principal parts of a column, which are the basis, shaft, and capital. Upon our coming to the bottom, observing an English inscription upon the basis, we read it over several times.
This principle forms the basis [= base, foundation] of the country's economic policies and will provide a firm basis for future development. The judge ruled that there is no legal basis [= ground] for a new trial.