Examlex
While you develop callused feet when you go barefoot for a summer,your neighbor remains a tenderfoot by protecting her feet with shoes.The differences in skin toughness between you and your neighbor are best attributed to
Net Capital Loss
The result when the total capital losses from investments exceed the total capital gains in a tax year.
Net Capital Gain
The profit from the sale of an asset or investment, subtracted by any losses from sales in the same tax year.
AMT
Short for Alternative Minimum Tax, a parallel tax system designed to ensure that individuals and corporations pay at least a minimum amount of tax.
AMT Income
Income calculated for the Alternative Minimum Tax, which includes certain adjustments and preferences to regular taxable income.
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