DaveF1006
Expert Alumni

Deductions & credits

Yes. I can give you some basics on what the question is asking. 

  1. You may have a number of investments overseas that generate foreign income. In these investments you have basis and that is the cost to purchase these additional investments.
  2. During the period of time your owned these investments, your basis mat have appreciated. You may have contributed more money into the investments. There may have dividends that may have been redistributed and the investment portfolio may have appreciated because of a favorable interest rate. 
  3. Original Basis plus all of the other increases is your adjusted basis. Unusually, if you keep records, you may have this information handy.
  4. Now if I understand the 4th question correctly, it's asking for the adjusted basis of all your assets.  These are all your investment portfolio both domestic and foreign.

 

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