Carryover Basis

Business, Legal & Accounting Glossary

Definition: Carryover Basis


Quick Summary of Carryover Basis


The tax basis of someone who receives a gift. The recipient’s basis is the same as the giver’s; it simply “carries over” when the gift is made.



Cite Term


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https://payrollheaven.com/define/carryover-basis/
Modern Language Association (MLA):
Carryover Basis. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. June 14, 2021 https://payrollheaven.com/define/carryover-basis/.
Chicago Manual of Style (CMS):
Carryover Basis. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/carryover-basis/ (accessed: June 14, 2021).
American Psychological Association (APA):
Carryover Basis. PayrollHeaven.com. Retrieved June 14, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/carryover-basis/

Definition Sources


Definitions for Carryover Basis are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 2 Views.