What PREPAID INTEREST means: Interest paid in advance is deductible only as it accrues. The one exception to this rule is for certain points paid by a cash-basis taxpayer to obtain financing for a loan used to purchase, reconstruct, or improve his or her principal residence.
- Definition Permanent And Total Disability:
- Dictionary prevents an individual from engaging in any substantial gainful activity because of a medically determined physical or mental impairment that is expected to result in death, or that has lasted or is prepaid interest definition.
- Definition Personal Expenses:
- Dictionary individual other than those for business or investment purposes. Personal expenses are not deductible unless specifically allowed under the tax law. Two examples of deductible personal expenses are prepaid interest explain.
- Definition Physical Custody:
- Dictionary The taxpayer with whom a child lives is considered to have physical custody prepaid interest what is.
- Definition Personal And Dependent Exemptions:
- Dictionary an exemption for each taxpayer and spouse (if a joint return is filed) who is not eligible to be claimed as a dependent on another taxpayer's return and for each dependent. The exemption amount prepaid interest meaning.
How works Prepaid Interest meaning in Tax definitions P .
