Basis is the amount of investment in property for tax purposes. The adjusted shareholder basis will be used to figure gain or loss on the sale or disposition of shares.
To help track basis, there is a worksheet within the TaxAct program that can be used to calculate the adjusted basis. This worksheet can be kept with your yearly tax records so you can easily determine the adjusted basis when selling or disposing of your shares.
To navigate to the Worksheet for Figuring a Shareholder's Stock Basis: