What NECESSARY means: An expense that is appropriate and helpful in furthering the taxpayer's business or income-producing activity. See also Ordinary defined elsewhere in this glossary.
- Definition Nontaxable Distributions:
- Dictionary applied to stock dividend distributions that are not taxable. These distributions generally take the form of return of capital, stock dividends, stock splits, and/or tax-free distributions necessary definition.
- Definition Nonrecourse Debt:
- Dictionary Nonrecourse debt is debt for which the borrower is not personally liable. If the borrower defaults, the lender can take the property used to secure the loan, but no other property of the borrower necessary explain.
- Definition Nontaxable Income:
- Dictionary Income that is by law exempt from tax necessary what is.
- Definition Nonbusiness Bad Debts:
- Dictionary incurred in connection with a creditor's trade or business. A nonbusiness bad debt is deductible as a short-term capital loss and is allowed only in the year the debt becomes entirely worthless necessary meaning.
How works Necessary meaning in Tax definitions N .
