Tax Glossary

Tax Glossary

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There are currently 3 Definitions in this directory beginning with the letter H.
Head of Household Filing Status
This filing status is generally for unmarried taxpayers who paid more than half the cost of keeping up a home for a qualified dependent relative during the tax year.
High Taxed Income
Passive income that is taxed by a foreign government at a rate higher than the highest U.S. income tax rate, and may be classified as "general category income," making it eligible for the foreign tax credit.
Holding Period
Schedule D requires entries for the stock purchase and sale date. Taxpayers must provide the date the stock was acquired and Form 1099-B will indicate the date the stock was sold. These two dates will determine the holding period.