An owner's basis in his or her property is the net sales price received by the owner from the sale of the home.

Name: An owner's basis in his or her property is the net sales price received by the owner from the sale of the home.
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An owner's basis in his or her property is the original cost of the property plus any improvements made, minus any depreciation taken or allowed. The net sales price received from the sale of the home does not factor into the basis calculation.

An Owner's Basis in His or Her Property Is the Net