What COMMUNITY PROPERTY means: Property considered to belong in equal shares to a husband and wife. This concept of ownership for property acquired after marriage is followed in Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington, and Wisconsin.
- Definition Cost Or Market, Whichever Is Lower:
- Dictionary in reference to inventory valuations. Most taxpayers prefer to use "cost or market, whichever is lower" as a basis for valuing their inventories because this method affords an opportunity community property definition.
- Definition Condemnation:
- Dictionary property by a public authority. The property is condemned as the result of legal action and the owner is compensated by the public authority. The power to condemn property is known as the right of community property explain.
- Definition Claim Of Right:
- Dictionary able to deduct or, in some cases, claim a credit for amounts the taxpayer is required to repay that the taxpayer included in income in a prior year or years under a claim of right. The term " community property what is.
- Definition Capital Gain Distributions:
- Dictionary mutual funds, regulated investment companies, and real estate investment trusts that represent the shareholder's portion of gain from the sale of capital assets owned by these investment community property meaning.
How works Community Property meaning in Tax definitions C .
