Tax Preference Item
Definition of "Tax preference item"
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of special tax benefit were targeted to ensure that taxpayers who benefit should pay the minimum amount of tax. An example is contributions of appreciated property.
Popular Real Estate Terms
Accruals make up the basis of the accrual accounting method together with deferrals. The accrual method definition explains how the company’s accountant makes modifications for gained ...
Wires, such as for electricity, places beneath the floor of a structure. ...
The initial lessee of rented property who then leases it to a subtenant. ...
Investments, usually in limited partnership, that can protect of defer shelter) part of the income from current taxes. Under current law, passive leases can be applied up to passive income. ...
Ownership by two or more persons that give the right to use the entire property. ...
Home designs developed after World War II incorporating modern technology, materials, and architecture including energy conservation methods to achieve a highly functional structure. ...
Fluctuation in sales, profits, rat of return, etc. Likelihood of declining value. ...
Conversion of a rental apartment house to individual condominium ownership of a portion of the minimum ownership of a portion of the building. Often, the tenant is given an opportunity to ...
Method of construction where part of the structure is supported by a cantilever beam or truss. ...
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