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Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/(saves) taxes on a capital gain /(loss) that equals the amount realized on the sale minus the sold property's basis.
Depreciation recapture most commonly applies when dealing with the sale of improved real estate (such as rental property), as the value of real estate generally increases over time while the improvements are subject to depreciation. Depreciation recapture in the USA is governed by sections 1245 and 1250 of the Internal Revenue Code (IRC). Any ...
Vitreous enamel, also called porcelain enamel, is a material made by fusing powdered glass to a substrate by firing, usually between 750 and 850 °C (1,380 and 1,560 °F). The powder melts, flows, and then hardens to a smooth, durable vitreous coating. The word vitreous comes from the Latin vitreus, meaning "glassy".
The most important characteristic of porcelain enamel, from an industrial perspective, is its resistance to corrosion. [3] Mild steel is used in almost every industry and a huge array of products; porcelain enamel is a very economic way of protecting this, and other chemically vulnerable materials, from corrosion.
The cost of refinishing a bathtub averages $480 (2023), which is much cheaper than buying a brand-new bathtub. [2] The cost varies depending on the bathtub material and damage. [2] A still cheaper option is do-it-yourself (DIY) kits which contain all of the necessary equipment for the bathtub owner to do the refinishing themselves.
Enamel paint is paint that air-dries to a hard, usually glossy, finish, used for coating surfaces that are outdoors or otherwise subject to hard wear or variations in temperature; it should not be confused with decorated objects in "painted enamel", where vitreous enamel is applied with brushes and fired in a kiln. The name is something of a ...
In tax accounting, adjusted basis is the net cost of an asset after adjusting for various tax-related items. [1] Adjusted Basis or Adjusted Tax Basis refers to the original cost or other basis of property, reduced by depreciation deductions and increased by capital expenditures. Example: Muhammad buys a lot for $100,000. He then erects a retail ...
Rental value is the fair market value of property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor ( landlord ) under a license to real property . [ 1 ]