Examlex
The volume of air normally breathed in and out of the lungs in a single breath at rest is referred to as the
Gain Recognized
The profit realized from the sale of assets over its adjusted basis, which must be reported for tax purposes.
Like-kind Exchange Provisions
Tax regulations allowing the deferral of tax liability when business or investment properties are exchanged for similar properties.
Partnership Interest
An ownership share in a partnership that represents a partner's stake in the profits, losses, and assets of the partnership.
Like-kind Exchange
A tax deferment strategy allowing for the exchange of similar types of properties without the immediate tax implications of selling the property.
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