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taxable
(redirected from Taxable transaction)

   Also found in: Financial 0.03 sec.
tax·a·ble  (tks-bl)
adj.
Subject to taxation: taxable income.
n.
One that is subject to taxation: taxables such as cigarettes and liquor.

taxa·bili·ty, taxa·ble·ness n.
taxa·bly adv.

taxable [ˈtæksəbəl]
adj
1. (Economics, Accounting & Finance / Accounting & Book-keeping) capable of being taxed; able to bear tax
2. (Economics, Accounting & Finance / Accounting & Book-keeping) subject to tax
n
(Economics, Accounting & Finance / Accounting & Book-keeping) (often plural) US a person, income, property, etc., that is subject to tax
taxability , taxableness n
taxably  adv
ThesaurusLegend:  Synonyms Related Words Antonyms
Adj.1.taxable - (of goods or funds) subject to taxation; "taxable income"; "nonexempt property"
nonexempt - (of persons) not exempt from an obligation or liability
nontaxable, exempt - (of goods or funds) not subject to taxation; "the funds of nonprofit organizations are nontaxable"; "income exempt from taxation"
Translations
taxable [ˈtæksəbl]
A. ADJgravable, imponible
B. CPD taxable income Nrenta f gravable, renta f imponible
taxable [ˈtæksəbəl] adj [income] → imposable
tax allowance npart f du revenu non imposable, abattement m à la base
taxable
adj personsteuerpflichtig; income also(be)steuerbar (form); goodsbesteuert, abgabenpflichtig
taxable [ˈtæksəbl] adjimponibile


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355(a)(3)(B) provides that C stock acquired by D by reason of any taxable transaction that occurs within five years of the stock distribution will not be treated as C stock but as other property (hot stock).
A foreclosure or a "deed-in-lieu" of foreclosure creates a taxable transaction for both you and the borrower.
Since the funds derived from the original property are never actually received by the taxpayer, the theory is that there is no taxable transaction and thus no taxes are due.
 
 
 
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