Cost Basis?! We Don’t Need No Stinkin’ Cost Basis!

Except that you do.  First off, what is cost basis?  The term refers to what it cost you to buy something.  Plus improvements (in the case of real assets.) For example, if you bought Amazon stock at $50/share, $50/share is your cost basis.  If you bought a house for $150,000 and put $50,000 of improvements…