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
Money raised by a syndicate promoter and placed into a fund prior to selecting the specific property in which funds will be invested. ...
Directly enhancing the physical nature of the property such as renovating the building, installing a new driveway and parking lot, and gardening. ...
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Bottom of a frame such as a window sill. ...
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Legal boundary of property. ...
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