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
What a piece of property could be sold for on the market. ...
Credit note which a lender's only security is the borrower's personal financial situation and credit history. ...
the loan rate stated on the face of the loan note. The nominal loan rate is not the same as the effective interest rate. For example, if points are charged to secure a loan, the effective ...
What is a turnkey property? A turnkey property is a very popular type of investment property that real estate investors prefer because it starts bringing a return on investment quickly. ...
Window(s) situated on top of a structure to furnish air and light for the inside. ...
Those factors causing the movement of people, industry, and business from the central city to the outside central city areas, suburbs, and/or small cities. Elements of the dispersing force ...
Two-story house where the front door is located above the first floor but below the second floor. ...
Are you ready to unlock the secret to reaching your ideal audience? The key is market delineation! But what what does delineate mean? Join us on this real estate journey and uncover the ...
Mortgage for residential property. ...
Have a question or comment?
We're here to help.