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

Question

Quizplus · Accepted Answer

All the listed costs (shipping, sales tax, installation, and purchase price) are typically included in an asset's tax basis as they are necessary to prepare the asset for its intended use.

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