What CONTRACT PRICE means: With respect to an installment sale, one of the amounts used to compute the percentage of each principal payment that is taxable as gain. The contract is equal to the gross selling price when no mortgages are assumed. If a mortgage is assumed, the contract price is the gross selling price minus the amount of the mortgage plus the excess (if any) of the mortgage over the seller's basis and expenses of sale.
- Definition Cost:
- Dictionary Cash and/or the value of property given to acquire the property received contract price definition.
- Definition Change In Accounting Period:
- Dictionary A change from one accounting period to another. Income for the short period created by the change must be annualized to calculate the tax for that period contract price explain.
- Definition Convertible:
- Dictionary A bond or preferred stock that may, under specified conditions, be exchanged for common stock or another security, usually of the same corporation contract price what is.
- Definition Cash Equivalent Doctrine:
- Dictionary basis taxpayer does not report income until cash is constructively or actually received. Under the cash equivalent doctrine, cash-basis taxpayers are required to report income if the equivalent of contract price meaning.
How works Contract Price meaning in Tax definitions C .
