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Tax Glossary
What Is “Section 1244 stock”?
Section 1244 stock is a special type of small business share that allows investors to treat a financial loss from...
Tax Glossary
What Is “Section 1231 property”?
Section 1231 property refers to real estate or depreciable property used in a trade or business that has been held...
Tax Glossary
What Is “Section 1231 loss”?
What Is Section 1231 Loss? A Section 1231 loss occurs when you sell or exchange real estate or depreciable property...
Tax Glossary
What Is “Section 1231 gain”?
A Section 1231 gain is the profit made from the sale or exchange of real estate or depreciable property used...
Tax Glossary
What Is “Section 1202 exclusion”?
The Section 1202 exclusion is a federal tax provision that allows taxpayers to exclude a massive portion—often 100%—of their capital...
Tax Glossary
What Is “SE tax”?
SE tax stands for Self-Employment tax. It is a social security and medicare tax primarily for individuals who work for...
Tax Glossary
What Is “Schedule C business”?
A Schedule C business refers to a sole proprietorship or a single-member LLC that reports its annual profit or loss...
Tax Glossary
What Is “Retained Earnings”?
Retained earnings are the cumulative profits a business has earned that stay within the company rather than being paid out...
Tax Glossary
What Is “Recognized gain”?
What Is Recognized Gain? A recognized gain is the portion of a profit from the sale of an asset that...
Tax Glossary
What Is “Realized gain”?
A realized gain is the profit earned from the sale or exchange of an asset, such as a stock, bond,...