Tax Return
Definition of "Tax return"
generic name of the form used to file taxes payable to a federal, state, or local government. The tax return includes items such as gross income, deductions, tax credits, and tax due. Individual taxpayers file on a calendar year basis using Form 1040m which is due 3 1/2 months after the tax year. Corporations prepare Form 1120 on a calendar year or fiscal year basis. It is due 2 1/2 months after the tax year. The partnership tax return is Form 1065.
Popular Real Estate Terms
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
U.S. tax law that consists of regulations and rules to be followed by taxpayers. The Internal Revenue Code of 1954 is continually revised and amended over time. ...
A business in which one or more person, with unlimited liability, called general partners, manage the partnership. There are also limited partners who contribute capital, but do not manage ...
Pitched roof that looks like a saw. ...
The apportioning, disbursing, dividing, offering, or parceling out of property among individuals. (1) Probate: Court order to divide up and distribute the contents of an estate after the ...
(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...
Fee simple estate is a term used to describe ownership or freehold of an estate and the type of ownership of an estate. The possessory interest, also referred to as fee (a word derived from ...
Methods of owning real estate. Ownership form has important consequences for income tax, estate tax, corporate income tax, and survivorship. Real estate may be owned by one or more persons. ...
An investigation to ascertain who legally has the title to property. For example, when a house is sold, the attorney for the purchase will do a title search to guarantee that the seller ...
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