Carryover Basis
Definition of "Carryover basis"
Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately preceding death. This adjusted basis is then further adjusted with respect to such aspects of a transfer as appreciated property, election of fair market value for personal items, and exceptions for small estates.
Popular Real Estate Terms
Geographic location that is gradually being developed as an urban area. ...
Individual or business to which all rights (usually intangile) to property have been transferred. ...
The definition of a bedroom community, or commuter town in real estate is a unique type of community that merely uses their homes to sleep, while doing everything else offsite. In a bedroom ...
Building with large unpartitioned floors areas often used for storage. ...
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An interest rate charged on a loan that exceeds the legal maximum interest rate within the state. It is illegal to do so. The maximum interest rate may depend on the type of lender and ...
Person's sole ownership of real property. ...
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A method widely used for evaluating real estate projects. Under the net present value method, the present value (PV) of all cash inflows from the project is compared against the initial ...
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