That is the IRS's definition.

Cost - an expense

Basis - the justification for or reasoning behind something

The key word here is basis, hence my cost basis is zero, because the reasoning is to sell X amount to bring it to zero.

The IRS gives you 1 meaning for 2 words combined and you're stuck on that. Quit thinking inside the box and you'd be amazed at what's out there.

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Posted by Chucktown_Badger

The banks of the Ashley River

Member since May 2013

31401 posts

Posted on 3/16/22 at 4:21 pm to Buck_Rogers

Jesus Christ man, guy on an investing board is trying to tell people that "cost basis" doesn't really mean what it actually means to every investor on the planet

This post was edited on 3/16/22 at 4:22 pm

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Posted by buckeye_vol

Member since Jul 2014

35251 posts

Posted on 3/16/22 at 6:53 pm to Buck_Rogers

quote:
That is the IRS's definition.

And every other person who has a basic understanding of what cost basis means.

quote:
Cost - an expense

Sure.

quote:
Basis - the justification for or reasoning behind something

You picked the wrong definition of basis. The proper definition would be the “foundation” or “something which something else is based or established.”

quote:
The IRS gives you 1 meaning for 2 words combined and you're stuck on that.

No. Those two words combined have a logical meaning, that is used both formally and colloquially. You can’t just take a random definition of one of the words, that is not even logical, creating a new meaning for the terms that is inconsistent with the logical formal and colloquial meanings, and pretend that your new meaning is just as valid as the meaning everyone else is using.

This is just weird.

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