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Tax Glossary
What Is “Recapture”?
What Is Recapture? Recapture is a tax procedure that allows the IRS to collect taxes on a profitable sale of...
Tax Glossary
What Is “Real estate tax”?
What Is Real Estate Tax? Real estate tax is a local tax levied by state, county, or municipal governments based...
Tax Glossary
What Is “Qualifying Disposition”?
What Is a Qualifying Disposition? A qualifying disposition is the sale or transfer of stock acquired through an Incentive Stock...
Tax Glossary
What Is “Qualified Intermediary”?
What Is a Qualified Intermediary? A Qualified Intermediary (QI), also known as an exchange accommodator, is a neutral third party...
Tax Glossary
What Is “Qualified Dividend”?
What Is a Qualified Dividend? A qualified dividend is a type of investment payout that meets specific IRS requirements to...
Tax Glossary
What Is “Property tax deduction”?
What Is a Property Tax Deduction? A property tax deduction allows you to subtract the amount you paid in local...
Tax Glossary
What Is “Principal residence”?
What Is a Principal Residence? A principal residence is the primary home where you live most of the time. Even...
Tax Glossary
What Is “Primary residence”?
What Is a Primary Residence? A primary residence is the main home where a taxpayer lives most of the time....
Tax Glossary
What Is “Points”?
What Are Points in Real Estate Taxes? In the context of U.S. taxes, “points” are certain charges paid to a...
Tax Glossary
What Is “Placed in Service”?
What Is “Placed in Service”? “Placed in service” is the date an asset is ready and available for a specific...