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
Timber in an original form, such as a pole. ...
Loan that allows the borrower to pay only the interest for the first few years of the loan. ...
Largest form of owner ship giving the owner complete control including the development off an inheritable estate. ...
A Bill of Sale is a formal document of the sale of goods or the transfer of title for personal property and chattel from one party to another. In sum, a bill of sale is a sort of receipt. ...
Green lumber is not necessarily a lumber that’s green; though it might, sometimes, be a little greenish. And it’s also not a definition of an environmentally conscious type of ...
Early American architectural housing style stressing a gambrel roof and overhanging eaves. ...
Also known as adjoining landowners or abutting owners, adjoining owners are property owners whose property touches a common property. The definition of adjoining property owners is those ...
Innovative architectural designs for either single or multi level homes and other buildings incorporating innovative features, such as passive solar heating. Contemporary building plans ...
The term developer’s profit is the actual profit generated by a developer’s project after the costs of the development have been covered. This profit can come from the sale of ...
Have a question or comment?
We're here to help.