Tax definitions L
- What is means Lessor Describe One who rents property to another. In the case of real estate, the lessor is also known as the landlord
- What is means Lien for Taxes Describe collection effort, may attach a lien (a legal claim) on the property of a taxpayer who is delinquent in the payment of amounts owed to the
- What is means Lifetime Learning Credit Describe the first $10,000 of qualified higher education tuition and fees paid during the year on behalf of the taxpayer, his or her spouse, or his
- What is means Like-Kind Property Describe in an exchange that is of the same type as the traded property. In addition to other requirements, both the traded and acquired
- What is means Liquidation Distributions Describe a partial or complete liquidation (going out of business) of a corporation. The basis of the stock on which liquidation distributions are
- What is means Listed Property Describe autos and other property used for transportation, property generally used for purposes of entertainment, recreation, or amusement
- What is means Long-Term Capital Gains and Losses Describe exchange of capital assets that have been held for more than 12 months. A net long-term capital gain is the excess of long-term gains over
- What is means Lump-Sum Distribution Describe of the entire balance in an individual's employer-provided retirement plan in one calendar year. When figuring whether a distribution
- What is means Land Value Describe property that includes both land and improvements to the land, suhc as a building. Such a sale must be reported as two sales on the tax
- What is means Last In, First Out (LIFO) Describe inventories for tax purposes. Under this method, the last items purchased are treated as being the first items sold. Ending inventory is
- What is means Like-Kind Exchange Describe productive use in a trade or business or for investment (except inventory and stocks and bonds) for property of the same type. Unless
- What is means Lessee Describe One who rents property from another. In the case of real estate, the lessee is also known as the tenant
- What is means Liquidation Describe The process of converting securities or other property into cash
- What is means Legally Separated Describe Separated under a decree of separate maintenance that requires the spouses to live apart
- What is means Load Describe A load is a sales charge imposed when mutual fund shares are purchased or redeemed
Tax explained and meaning
What does it do? Descriptio of tax definitions.
Define Load, Legally Separated, Liquidation, Lessee, Like-Kind Exchange, Last In, First Out (Lifo), Land Value, Lump-Sum Distribution, Long-Term Capital Gains And definition.
Explain Load, Legally Separated, Liquidation, Lessee, Like-Kind what.