basis difference
Defined in 1 place of the United States Code.
The term “basis difference” means, with respect to any relevant foreign asset, the excess of—
(I) the adjusted basis of such asset immediately after the covered asset acquisition, over
(II) the adjusted basis of such asset immediately before the covered asset acquisition.
Source
- 2010–present26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · under this chapter