The Assets Less Liabilities of a Deceased Individual Are Called

question 55

Short Answer

The assets less liabilities of a deceased individual are called a(n) ________.

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Definitions:

Property Taxes

Taxes paid by property owners to local governments based on the assessed value of their real estate.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life.

Insurance

A contract represented by a policy in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Schedule E

A tax form used to report income and losses from rental property, royalties, partnerships, S corporations, estates, and trusts.