Definition of "Bargain sale"

Dawna Stone real estate agent

Written by

Dawna Stoneelite badge icon

The Property Shoppe of Central Florida, Inc.

Charitable planning strategy in which a donor sells an asset to the charity for an amount less than its fair market value. Internal Revenue Service regulations require that the tax basis for the property be established on a pro rata schedule between the sale portion and the gift portion. The donor has a taxable gain on the sale portion.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

process of discovering sources of loss concerning the liability risk faced by individuals and business firms. The first step in risk management is to identify the causes of a loss by ...

clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...

Frequency of death. ...

Part of the federal Medicare program for additional coverage on a voluntary basis. The Medicare program is divided into two parts: (1) Hospital Insurance provides hospital benefits to ...

Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. ...

Provision that covers a business to be protected under a reinsurance treaty. The class either can appear at the beginning of the agreement or may be included in the retention and limits ...

Same as term Expiration: termination date of coverage as indicated on the insurance policy. ...

Type of guaranteed investments contract in which the interest credited is adjusted on a periodic basis to reflect the investment earnings of the underlying assets of the contract. ...

Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...

Popular Insurance Questions