Tax Attribute

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Dictionary Says

Definition of 'Tax Attribute'

A type of loss or tax credit that must be reduced as a result of the exclusion of debt cancellation from a taxpayer's gross income. Tax attributes are adjusted when a taxpayer declares bankruptcy.

Tax attributes include net operating losses and carryovers, general business credit carryovers, alternative minimum tax credit carryovers, capital loss and foreign tax credit carryovers.

Investopedia Says

Investopedia explains 'Tax Attribute'

Taxpayers who are forgiven debts as a result of bankruptcy do not have to include the forgiven debt as income, but certain tax attributes must be reduced by an amount proportionate to the amount of debt that has been forgiven.

For example, if $5,000 in debt was forgiven, then the taxpayer could elect to have the basis of his/her rental property reduced by $5,000 and defer the tax until the property is sold. If the property is sold for a gain, then $5,000 of that gain will be taxed as ordinary income.
Search results for

'Tax Attribute'

  • Taking A Look At Tax Havens

    http://www.investopedia.com/articles/tax/09/tax-havens.asp
    ... But this attribute alone is insufficient to identify a tax haven. ... Which leads
    to the second, and most important, attribute of a tax haven. ...

  • 6 Problems With 401k Plans

    http://www.investopedia.com/articles/retirement/11/6-problems-with-401k-plans.asp
    ... Manager Measure Up?) 6. Complex Tax Implications Arguably the most highly touted
    401(k) plan attribute is the pre-tax treatment of invested cash flows. ...

  • The Rest Of The Homebuilder Story

    http://stocks.investopedia.com/stock-analysis/2010/The-Rest-Of-The-Homebuilder-Story-BZH-MTH-RYL-KBH-PHM-MDC-DHI-HOV0216.aspx
    ... more than $250 million worth of tax refund next year. What's amazing is that its
    market cap is a mere $300 million. The same cash-heavy attribute applies to ...

  • Xyratex Readies For The Next Upturn

    http://stocks.investopedia.com/stock-analysis/2011/Xyratex-Readies-For-The-Next-Upturn-XRTX-EMC-NTAP-STX-WDC1005.aspx
    ... severe drop in profits during its fiscal third quarter, but didn't attribute it
    to ... Net income fell a more severe 74%, as income tax expense was $3 million, up ...

  • Can You Handle A Home-Based Business?

    http://www.investopedia.com/articles/pf/08/handle-home-business.asp
    ... Organization is another attribute that aids growth. ... You would have more tax benefits
    and write-offs, such as claiming depreciation for your home office. ...

  • In Praise Of Portfolio Simplicity

    http://www.investopedia.com/articles/basics/08/simplify-investing.asp
    ... Diversification to a point is always a desirable attribute, but over-diversification ...
    the portfolio's simplicity, but can also make it more tax efficient as well ...

  • CFA Level 1 Study Guide - Assets - Choosing the Appropriate ...

    http://www.investopedia.com/exam-guide/cfa-level-1/assets/choosing-accounting-method.asp
    ... 8.21 Asset Impairment. 9. Liabilities: 9.1 Introduction; 9.2 Current Liability Basics;
    9.3 Income Tax Terminology; 9.4 Tax Deferred Liabilities; 9.5 Permanent Vs ...

  • CFA Level 1 Study Guide - Ethics and Standards - Standard IC ...

    http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/standard-misrepresentation.asp
    ... 8.21 Asset Impairment. 9. Liabilities: 9.1 Introduction; 9.2 Current Liability Basics;
    9.3 Income Tax Terminology; 9.4 Tax Deferred Liabilities; 9.5 Permanent Vs ...

  • The Challenging Role Of The Corporate Treasurer

    http://www.investopedia.com/articles/financial-careers/08/corporate-treasurer.asp
    ... specialists such as bankers, lawyers, credit rating agencies, tax and accounting ...
    and communication skills are therefore an important personal attribute for a ...

  • Will Gas Prices Ever Go Down? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0611/Will-Gas-Prices-Ever-Go-Down.aspx
    ... Analysts attribute the prices to a number of problems, including dependence on oil ...
    If the state or federal governments lowered the tax on gasoline, the price ...

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