What AMOUNT REALIZED means: The amount received by a taxpayer on the sale or exchange of property. The amount received is the sum of the cash and the fair market value of any property or services plus any of the seller's liabilities assumed by the purchaser. Determining the amount realized is the starting point for arriving at realized gain or loss.
- Definition Automobile Expenses:
- Dictionary deduct automobile expenses only to the extent the automobile is used for business, for charitable purposes, for moving expense purposes, and for medical purposes. Expenses can be figured using the amount realized definition.
- Definition Away From Home Overnight:
- Dictionary For purposes of deducting travel expenses, a trip away from one's tax home for a period longer than an ordinary work day, during which time one is released from duty to obtain rest amount realized explain.
- Definition Adjustment To Income:
- Dictionary An expense that may be deducted even if the taxpayer does not itemize deductions. Adjustments to income are subtracted from gross income to arrive at adjusted gross income amount realized what is.
- Definition Active Participant:
- Dictionary A taxpayer who is covered by an employer-maintained qualified retirement plan, or a qualified self-employed retirement plan, if even for only one day during the year amount realized meaning.
How works Amount Realized meaning in Tax definitions A .
