What RECOVERY means: The amount of a deduction or creditable expense paid in a previous year that is later refunded to the taxpayer. The recovered amount must usually be included in income in the year it is received, to the extent of the previous tax benefit.
- Definition Realized Gain Or Loss:
- Dictionary The difference between the amount received upon the sale or other disposition of property and the adjusted basis of the property recovery definition.
- Definition Recovery Property:
- Dictionary Recovery property is a term used to describe property that is eligible to be depreciated under either ACRS or MACRS. See ACRS and MACRS recovery explain.
- Definition Repairs:
- Dictionary expenditures to keep business-use property in good operating condition that do not significantly add to the value of the property or extend its useful life. Also se "Capital Improvement." recovery what is.
- Definition Regulated Investment Company (Mutual Fund):
- Dictionary that uses its capital to invest in other companies. The two principal types are closed-end and open-end mutual funds. Shares in closed-end mutual funds, some of which are listed on stock exchanges recovery meaning.
How works Recovery meaning in Tax definitions R .
