What COMMUNITY INCOME means: Income of a married couple, living in a community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. The community property states are Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington, and Wisconsin.
- Definition Capital Gain:
- Dictionary The gain from the sale or exchange of a capital asset community income definition.
- Definition Convention Expenses:
- Dictionary incurred in attending a convention are deductible if the meetings are related to a taxpayer's trade or business or job-related activities. If, however, the convention trip is primarily for community income explain.
- Definition Carryback/Carryover:
- Dictionary Provisions in the tax Code that allow certain losses or credits to be used in a tax year other than the tax year incurred. A carryover is to a future year. A carryback is to a prior year community income what is.
- Definition Common-Law State:
- Dictionary A state in which the laws governing property rights are based on British common law. The property and income of each spouse belongs to him or her separately community income meaning.
How works Community Income meaning in Tax definitions C .
