Tax Preference Item
Definition of "Tax preference item"
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of special tax benefit were targeted to ensure that taxpayers who benefit should pay the minimum amount of tax. An example is contributions of appreciated property.
Popular Real Estate Terms
Certification granted by the Realtors National Marketing Institute, which is affiliated with the National Association of Realtors. ...
The process of upgrading unusable land through making physical improvements. For example, swamp land can be drained and filled in order to make it usable. Barren land can be reforested by ...
To enter illegally. For example, entering property without permission. ...
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Storage of inactive items, including automobiles, for a certain period. Normally, a storage facility, charging a fee, provides dead storage of items. To prevent deterioration, dead ...
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Power of attorney giving permission for a lawyer to represent a client. ...
Transfer of title based on a preceding title transfer of conveyance. A derivative conveyance increases, ratifies, moderates, renews or transfers the stake created by the original ...
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