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
The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the ...
Amount awarded by a government when a person's property is condemned and he must move. ...
Mortgage loan not insured or guaranteed by a governmental agency such as the Federal Home Administration or the Veterans Administration. This type of loan is repayable in fixed monthly ...
Designing a home with a Spanish cultural flavor. ...
Regarding the definition of the term adjoining, we see a term used most often to describe a particular position that objects, items, or properties have regarding each other. In the case of ...
Restoring real property to an improved state. The restoration is usually needed because the property's condition has worsened. ...
A narrow passageway between buildings providing secondary rear access. ...
Right to substantive real or personal property having tangible body and form. For example, a corporeal right to a house, property, furniture, or fixtures. ...
The float has several meanings in the financial world and the real estate terminology. Typically, the float refers to the number of funds, represented by checks, that an institution or an ...
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