Tax terms, decoded.

Non-Employee Compensation form

Adjusted Gross Income

Alternative Minimum Tax

Indirect Roth IRA contribution

Cost basis of an asset

Accelerated first-year deduction

Profit on sold assets

Reclassifying real estate components

Spreading asset cost over time

Employer Identification Number

Federal transfer tax at death

Quarterly prepayment of tax

Foreign Bank Account Report

Joint return liability shield

Incentive Stock Option

Modified Adjusted Gross Income

After-tax 401(k) conversion

Net Investment Income Tax

90-day letter from IRS

Non-Qualified Stock Option

Settling tax debt for less

Entity income flows to owners

Qualified Business Income

Qualified Small Business Stock

S-Corp salary requirement

Required Minimum Distribution

Tax-free retirement account

Restricted Stock Unit

S Corporation election

Underpayment penalty shield

Immediate equipment expensing

Default itemization alternative

Basis reset at death

Realizing losses to offset gains

Taxpayer ID request form

Disallowed loss rule