involuntary conversion
Definition
Money or property received in compensation for a damage or loss by casualty, condemnation, or theft. Profit realized on involuntary conversion is generally tax-free if it is invested in a property similar to the damaged or lost one within a certain period.
Popular 'Accounting & Auditing' Terms
involuntary conversion in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/involuntary-conversion.html
