What COST OF MAINTAINING A HOME means: Expenses necessary to maintain a taxpayer's residence. These costs include rent or mortgage interest and real estate taxes, fire and casualty insurance on the dwelling, upkeep and repairs, utilities, paid domestic help, and food consumed in the home. This figure is used to determine whether a taxpayer qualifies to use the head of household status.
- Definition Contract Price:
- Dictionary 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 cost of maintaining a home definition.
- Definition Charitable Contributions:
- Dictionary Money or property donated to a qualified charitable organization. Such donations are deductible, subject to income limits, on Schedule A as itemized deductions cost of maintaining a home explain.
- 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 cost of maintaining a home what is.
- Definition Community Property:
- Dictionary 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 cost of maintaining a home meaning.
How works Cost of Maintaining a Home meaning in Tax definitions C .
