Bargain Sale
Definition of "Bargain sale"
Charitable planning strategy in which a donor sells an asset to the charity for an amount less than its fair market value. Internal Revenue Service regulations require that the tax basis for the property be established on a pro rata schedule between the sale portion and the gift portion. The donor has a taxable gain on the sale portion.
Popular Insurance Terms
Same as term Coinsurance: in property insurance, when the insurance policy contains this clause, coinsurance defines the amount of each loss that the company pays according to the following ...
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