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
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Contract in which the borrower agrees to the terms of a loan including payment dates, interest rate, total cost of the loan, and late payment fees. ...
Agreement by a lender to loan money to suitable borrowers within a given time period but without identifying those borrowers. ...
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