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Tax Court's Method
Procedures and legal principles used by the United States Tax Court to resolve disputes between taxpayers and the IRS.
IRS Method
Specific procedures or guidelines established by the Internal Revenue Service for filing taxes, calculating depreciation, or determining fair market value, among others.
Personal Use
The use of a property or asset for individual needs or enjoyment, as opposed to business or income-producing purposes.
Royalty Income
Income received from the use of one's property or assets, such as patents, copyrighted works, or natural resources, by another party.
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