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
Market condition in which sellers exceed buyers, thereby causing prices to fall. In real estate, declining markets may result from unfavorable business conditions and high interest rates. ...
A house having stucco or brick siding mixed with some wood. The house usually is two or more stories. ...
Regulatory rules that have to be followed by the organization in conducting its activities. ...
Real estate not subject to property tax such as that owned by nonprofit entities including charitable, governmental, religious institutions. ...
(1) Subunit integral to a larger unit. (Usually associated with furniture). (2) Permanent fixture or appliance which is not intended to be portable and cannot easily be removed. A home has ...
Time period that a round of regular recurring construction takes place. There may be boom and bust times in construction activity. ...
Main street having a divider either in the center or between the curb and sidewalk with trees, grass, or other shrubbery. ...
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could ...
An agreement specified in the lease providing the tenant the option to renew the lease for a given time period upon the expiration of the initial lease. Most lease options include the ...
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