noun

- The basis is defined as the foundation of something, or as a concept or a necessary part of something.
- An example of a basis is the foundation of a house.
- An example of a basis is the reason for which someone may choose to affiliate himself with a specific party.
- An example of basis is the butter in a recipe for hollandaise sauce.

This foundation is the basis for a new building.

## basis

noun

*pl.*bases

- the base, foundation, or chief supporting factor of anything
- the principal constituent of anything
- the fundamental principle or theory, as of a system of knowledge
- a procedure or timed plan: paid on a weekly
*basis* - a specified attitude: a friendly
*basis*

- a procedure or timed plan: paid on a weekly

Origin of basis

Classical Latin ; from Classical Greek a base, pedestal ; from*bainein,*to go ; from Indo-European base an unverified form

*gwem-*, come

## basis

noun

*pl.*

**ba·ses**

- A foundation upon which something rests.
- The chief constituent; the fundamental ingredient:
*The basis for most liquids is water.* - The fundamental principle.
- a. An underlying circumstance or condition:
*workers paid on a daily basis; friends who are on a first-name basis.*See Synonyms at base^{1}.b. A pattern or schedule for proceeding:*on a weekly basis.*c. A condition for relating or proceeding:*a first-name basis; a friendly basis.*

Origin of basis

Middle English, from Latin, from Greek; see*g*in Indo-European roots.

^{w}ā-## basis

Noun

(*plural* bases *or* baseis)

- A starting point, base or foundation for an argument or hypothesis.
- An underlying condition or circumstance.
- regular frequency
*You should brush your teeth on a daily basis at minimum.**The flights to Fiji leave on a weekly basis.**Cars must be checked on a yearly basis.*

- (linear algebra) In a vector space, a linearly independent set of vectors spanning the whole vector space.
- (accounting) Amount paid for an investment, including commissions and other expenses.
- (topology) A collection of subsets ("basis elements") of a set, such that this collection covers the set, and for any two basis elements which both contain an element of the set, there is a third basis element contained in the intersection of the first two, which also contains that element.
*The collection of all possible unions of basis elements of a basis is said to be the topology generated by that basis.*

Usage notes

- The construction "on a daily/weekly/etc. basis" is usually an unnecessarily-wordy substitute for simply "daily/weekly/etc."

Anagrams

- absis
- isbas

Origin

From Latin *basis*, from Ancient Greek *βάσις* (basis).^{ }

## basis - Investment & Finance Definition

In the futures market, the difference between the cash and futures prices. For instance, if cash prices for cotton typically are 5 cents below the July futures price, the November basis is said to be “5 cents under.” Separately, basis also is used to calculate the amount of capital gains tax that is due on the sale of an investment or asset. The basis is calculated by taking the purchase price and subtracting any commissions or expenses.

## basis - Legal Definition

n

The amount or value assigned
to a taxpayer’s cost of acquiring, or investment in, an asset. Primarily used
when determining the taxpayer’s gain or loss when the property is sold,
bartered, or exchanged or the asset’s depreciation.

adjusted basisThe value of a taxpayer’s basis in an asset, after making
additions or subtractions to his or her original basis, to reflect certain
events, such as capital improvements and depreciation, that affect the value of
the property subsequent to the taxpayer’s acquisition of or investment in the
asset.

carryover basisThe basis of an asset transferred from one owner to another by gift or
in trust at the time of the transfer.

recovery of basisSee recovery.

stepped-down basisThe taxpayer’s basis in an asset after the basis has been
decreased to a certain value (usually its fair market value) upon a certain
date or event. For example, the basis of inherited property is its fair market
value as of the date of the decedent’s death or an alternate valuation date and
the decedent’s stepped-down (or stepped-up) basis in the asset is the new
owner’s original basis.

stepped-up basisThe taxpayer’s basis in an asset after the basis has been increased to a
certain value (usually its fair market value) upon a certain date or event.

substituted basisThe basis of one asset that substitutes for that of another asset
when the first asset has been exchanged or otherwise transferred in return for
the second asset. The taxpayer does not incur any gain or loss, but substitutes
the basis of the asset she transferred to the property she acquired.