Search

Taxable Event

A "taxable event" is any transaction or occurrence that has tax consequences. Examples include the sale of a security or real property that is subject to capital gains taxes, withdrawal of funds from a tax-deferred retirement account, or any receipt of income, interest payments, or dividends. Taxable events trigger a reporting requirement to the applicable tax agencies, such as the IRS. They do not necessarily require tax payments. Exemptions or deductions may apply, depending upon the nature of the transaction.

 

Top Searched Terms

 
 
                    

    Browse Glossary :
A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  All
Advertisement

Answers
  

Quiz of the Day
    Q: A Closing Statement for a real estate transaction shows:

Word of the Day
   Roth IRA

A "Roth IRA" is a type of Individual Retirement Account (IRA) authorized by U.S. federal law. Individuals may make nondeductible contributions into a Roth IRA if certain income requirements are met. Qualified distributions from a Roth IRA are tax-free. A qualified distribution is one that is taken at least five years after the taxpayer established the first Roth IRA and when the taxpayer is age 59½, disabled, or using the withdrawal to purchase a first home (limit $10,000 withdrawal), or deceased (in which case the beneficiary collects). A Roth IRA may invest in a variety of options such as in stocks or mutual funds.
Go to Definition
Copyright © E-PersonalFinance.com. All rights reserved.
No part of the content or the data or information included herein may be reproduced, replicated or redistributed without the prior written permission of E-PersonalFinance.com.
Use of this site is governed by our Terms of Use Agreement and Privacy Policy.