Carryover Basis
Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately preceding death. This adjusted basis is then further adjusted with respect to such aspects of a transfer as appreciated property, election of fair market value for personal items, and exceptions for small estates.
Popular Real Estate Terms
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An open surface constructed on top of a flat roof. Normally, a railing is constructed on the sides of a deck roof. See also deck. ...
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Risk resulting from possible increases or decreases in price levels that can substantially impact real estate values. ...
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Transfer of both real and personal property. An example is the sale of a home with personal belongings. Putting together a group of property to be sold together, perhaps at a discount ...
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