What NONRECOURSE DEBT means: 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.
- Definition Necessary:
- Dictionary 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 nonrecourse debt definition.
- Definition Net Operating Loss (NOL):
- Dictionary loss for the year attributable to business or casualty losses. Depending on the nature of the loss, it may be carried back for two, three, or five years before the year of the loss. The loss is nonrecourse debt explain.
- Definition Nontaxable Exchange:
- Dictionary An exchange on which no gain or loss is recognized in the current year. The realized gain generally is recognized when the property acquired in the exchange is sold nonrecourse debt 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 nonrecourse debt meaning.
How works Nonrecourse Debt meaning in Tax definitions N .
