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Hi and welcome to Just Answer!The basis is determined differently based on how the property was acquired. If the property was purchased - the basis is the purchase price.You may review IRS publication 551 for details - www.irs.gov/pub/irs-pdf/p551.pdfThat is regardless if that asset is in the US or abroad.
The basis is adjusted by some events - for instance improvement expenses and depreciation.Please let me know what type of asset doe you have?What was your purchase price?What additional events did you have since you purchased that asset?