When it comes to calculating your capital gains tax, understanding your cost basis is crucial. Essentially, the cost basis of an investment is what you paid for it. Working out any capital gains when you sell an investment is just a matter of subtracting your cost basis from your sale price. It sounds simple enough, but calculating your cost basis can be complex—and if you do it incorrectly, you could end up paying the wrong amount in taxes.
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This article should not be construed as tax advice and the reader should consult a tax specialist. For a recommendation, please call (415) 259-4979.