Carryover basis

Definition -
: the basis of a donated or transferred asset that is equal to the basis of the asset when it was in the hands of the donor or transferor
Carryover basis is generally applied to gifts, transfers in trust, and property acquired from a decedent.
Pronunciation'kar-E-"O-v&r-

Pronunciation Key

  • \&\ as a and u in a b ut
  • \[^&]\ as e in kitt en
  • \&r\ as ur and er in f urther
  • \a\ as a inash
  • \A\ as a in ace
  • \Š\ as o in m op
  • \au\ as ou in ou t
  • \ch\ as ch in ch in
  • \e\ as e in bet
  • \E\ as ea in easy
  • \g\ as g in go
  • \i\ as i in hit
    		•
  • \I\ as i in ice
  • \j\ as j in job
  • \[ng]\ as ng in sing
  • \O\ as o in go
  • \o\ as aw in law
  • \oi\ as oy in boy
  • \th\ as th in thin
  • \[th_]\ as thin the
  • \Ÿ\ as oo in loot
  • \u\ as oo in foot
  • \y\ as y in yet
  • \zh\ as si in vision
    		•


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    Based on Merriam-Webster's Dictionary of Law ©2001.
    Merriam-Webster, Incorporated
    Published under license with Merriam-Webster, Incorporated.
    http://www.m-w.com    		 Merriam-Webster

    intrinsic fraud

    fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud


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