Question

which of these would decrease basis? nonbusiness energy credit. cash paid in an exchange. assessments for local improvements, such as sewers and sidewalks, and the cost of extending utility service lines to the property. expenses incurred during the sale of the asset

Answer 1

Things that decrease basis include certain tax credits, insurance reimbursements from losses associated with casualty or theft and deductions for depletion and depreciation. Granting an easement to another party for the use of your property can also decrease basis