Information about Publication 544, Sales and Other Dispositions of Assets, including recent updates and related forms. Publication 544 explains the tax rules that apply when you dispose of property. It discusses how to figure gain (loss), whether it is ordinary or capital, how to treat the gain or loss, and how to report gains and losses.
Information about Publication 551, Basis of Assets, including recent updates and related forms. Publication 551 discusses basis, the amount of your investment in property. It discusses cost basis, adjusted basis, and basis other than cost.