Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Seleucids
Amount Realized
The total sum received from a sale or transaction after accounting for all expenses and liabilities.
Basis
Basis refers to the amount of investment in something for tax purposes, usually the cost of acquiring an asset.
Section 1245
A provision of the Internal Revenue Code relating to the recapture of depreciation on certain types of property when sold.
Ordinary
Pertaining to regular or usual conditions, occurrences, or business activities that are not exceptional.
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