1034/121 Rolldown
Definition of "1034/121 rolldown"
Combination of IRC 1034 and 121 dealing with the sale of a personal residence with the once-in-a-lifetime $125,000 exclusion that may be available for the "over-55" seller. Should the over-55 homeowner buy a new home of lesser value, the $125,000 exclusion can be used to avoid some or all of the taxes on the sale of the old residence.
Popular Real Estate Terms
A capital asset. An expenditure to buy property and other capital assets that generate revenue. Securities of real estate companies. ...
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Final property appraisal estimate arrived at by applying appropriate appraisal methods. ...
One-story house with a low pitched roof often having an open floor plan. ...
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Evaluation of a contemplated project or course of action, according to pre-establisher criteria to determine if the proposal meets the requirements of the property owner. An analysis is ...
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