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 Audit:
- Dictionary and verification of a taxpayer's return or other transactions with tax consequences. An office audit is an audit by the IRS that is conducted in the agent's office. A field audit is amount realized.
- Definition Advance Earned Income Credit:
- Dictionary Payment by an employer based on an employee's claim to entitlement to the earned income credit. Advance earned income credit payments are treated as additional taxes on the tax return amount realized.
- Definition Annuitant:
- Dictionary A person who receives a pension or an annuity amount realized.
- Definition Annuity:
- Dictionary to a person at specified intervals for a specific period of time or for life. The amouont may be fixed or variable. Payments represent a partial return of capital and a return on the capital amount realized.
How works Amount Realized meaning in Tah definition A .