Which of the following is not usually included in an asset's tax basis?
A)Purchase price.
B)Sales tax.
C)Shipping costs.
D)Installation costs.
E)None of the choices are correct.

Question

Quizplus · Accepted Answer

All the listed items (purchase price, sales tax, shipping costs, and installation costs) are typically included in an asset's tax basis, as they are all costs associated with acquiring and preparing the asset for use.

Which of the Following Is Not Usually Included in an Asset's