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
Legal contract with a property owner empowering a real estate agent in selling, leasing, or mortgaging the principal's property. A listing has a legal description of the property, is valid ...
Time period of an estate based on how long a third party lives. ...
A situation that occurs when borrowed funds cost more than they produce. ...
When a debtor defaults on a loan for which a deed of trust is given, the trustee is required to have a sale of the real estate security for the benefit of the lender. A deed of trust is ...
Used ton convey property of a minor or legally incompetent person. ...
Any of a number of types of covenants agreeing to do or not to do something that is attached to the title and is passed form one owner to the next. See also covenant running with the land. ...
What is the meaning of a story, and what is it good for? The story definition is a floor, level, or deck in a construction or building. What does story mean in real estate? A real ...
Annual rate of inflation of 10% or higher. ...
Lumber of no more than 8 inches wide and 2 inches thick. ...
Have a question or comment?
We're here to help.