taxable income or loss Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: taxable income or loss
taxable income or loss

the amount of income or loss on a tax return. Generally derived, for rental real estate, by subtracting from gross income the sum of operating expenses , interest expenses, depreciation deductible for income taxes, and amortization of deferred charges . Generally, economic depreciation, amortization loan payments, and replacement reserves are not tax-deductible.

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