Definition Of Tax Return In Real Estate

Definition of "Tax return"

Josh Whittemore, Real Estate Agent The Whittemore Group at ProSmart Realty

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.