词条 | Character (income tax) |
释义 |
Character is the type of income to calculate the taxpayer's tax liability. In the United States, the Supreme Court decided ( Commissioner v. Glenshaw Glass Co.) that income is an accession to wealth, however capital gain is of different character from ordinary income. Ordinary income includes earned wage income and interest income from lending. Capital IncomeU.S.The IRS characterizes income or loss as a capital gain or loss depending on how the taxpayer generates the gain or loss. When the taxpayer invests in real estate or security and then later sells that piece of real estate or security, the IRS characterizes the amount that exceeds the purchase price as capital income while the amount that falls short of the purchase price is capital loss. The IRS refers to the purchase price as the tax basis. When the IRS characterizes income as capital gain, it enjoys a lower tax rate than ordinary income. Ordinary IncomeU.S.The IRS characterizes ordinary income as income generated from earned wage income or interest income earned from lending. The IRS taxes ordinary income according to a progressive rate determined by the amount of income. It is a progressive income tax. See also
1 : Taxation in the United States |
随便看 |
|
开放百科全书收录14589846条英语、德语、日语等多语种百科知识,基本涵盖了大多数领域的百科知识,是一部内容自由、开放的电子版国际百科全书。