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Unit 17

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Adjusted Basis   show
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show An increase in the worth or value of a property  
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show The cost of a property that the Internal Revenue Service uses to determine annual depreciation and gain or loss on the sale of the asset  
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show A written instrument given to transfer title of personal property  
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show Money or property given to make up any difference in value or equity between two properties in an exchange  
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show Profits realized from the sale of assets like real estate  
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show The net spendable income from an investment after deducting expenses  
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show In appraisal, a loss of value in property due to any cause including physical deterioration, functional obsolescence, and locational obsolescence. For income tax purposes yearly write off of a % of the cost of a building as an expense  
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show A transaction in which all or part of the consideration for the purchase of real property is the transfer of like kind property (for ex; real estate for real estate)  
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show A method of reporting income received from the sale of real estate when the sale price is paid in two or more installments over two or more years  
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show The use of borrowed money to finance investments  
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Marginal Tax Rate   show
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show Trust ownership of real estate by a group of at least 100 individuals who purchase certificates of ownership in the trust  
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show The income from real estate investment, calculated as a percentage of cash invested  
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show A combination of people or firms formed to accomplish a joint venture of mutual interest  
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Tax-Credit   show
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Uniform Commercial Codes (UCC)   show
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Created by: MAK89
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