wrench that can close or open to grip objects of varying sizes
Adjusted cost basis
Tax purpose cost measuring method that allows cost to be increased by the cost of capital improvements or reduced due to depreciation. The cost of a home would be increased by the amount paid to install a permanent improvement such as air conditioning.
Adjusted gross income
Federal tax term which refers to the difference between a taxpayers gross income and adjustments to that income, which may include deductions for individual retirement accounts (IRA) and Keogh pension plans, which may be invested in real estate. Adjusted gross income is the basis for determining the limitations or eligibility of other components, such as miscellaneous expenses (2% of AGI), in calculation of taxpayer's tax liability.
Adjusted price
Price plus accrued interest.
Adjusted sales price
(1) Net sales price of a piece of property with the commissions and closing costs deducted from the actual sales price. (2) For appraisal purposes: the price of a comparable piece of property with the differences between it and the property in question, accounted for. (3) For income tax purposes: the sales price of a property reduced by the costs of improvements necessary to bring it to the condition of the comparable property.
Adjusted tax basis
The original cost of the property plus additional capital expenditures made to it, minus the accumulated depreciation. The realized tax purpose gain or loss is the difference between the sales price and the adjusted basis. Example: property purchased for $300,000 with $100,000 of capital improvement made to it. With an accumulated depreciation of $75,000, the adjusted cost basis for tax purposes would be $325,000 ($300,000 + $100,000 - $75,000). If sold for $400,000, the taxable gain would be $75,000.
Adjuster
The insurance company employee who settles the value of any damage done to insured property so that the insured owner may be compensated.
Adjusting link
An adjustable strap or bar forming a connection between the lift rod of a faucet and the ball lever assembly of the drain.
Adjustment date
The day when the interest rate changes on an adjustable rate mortgage (ARM).
Adjustment period
The time between rate adjustments in an adjustable rate mortgage.
