Section 1034
Definition of "Section 1034"
Provision in the Internal Revenue Code applicable to the sale of an individual's house. The gain or loss is deferred by adjusting the cost basis of a new house bought within two years of the date of sale of the old house. The replacement cost for the new house must be equal to or greater than the net selling price of the old house. the net selling price equals the gross selling price less expenses associated with the sale such as brokerage fees." section 1221
Popular Real Estate Terms
The rent a property commands in a free and open market setting. ...
Structural, storage, and shelving characteristics associated with a warehouse. ...
One who has died with a valid will in effect. ...
An idiomatic expression indicating the desire of an individual to understand new surroundings and all of its nuances including its quality and character. The derivation of the expression ...
Homeowner’s insurance is a kind of property insurance that covers risks commonly encountered by homeowners.There are several kinds of homeowner’s insurance ...
Standard precut lumber sizes for lumber industry needs. The typical sizes are 2 to 5 inches thick by 5 to 12 inches wide. ...
Also called hyperinflation. Very high rate of inflation rate. ...
Party that receives part or all of a construction job to do from the general contractor. ...
Doing business as, or DBA, means an official moniker for your enterprise or company. Regularly, a DBA is a state certificate serving as a registration name and issued under a ...
Have a question or comment?
We're here to help.