Countries that actually refer to themselves in some way as social democracies or democratic socialist nations in their respective constitutions include Bangladesh, India, North Korea, Portugal, Sri Lanka and Tanzania.
Second Home. To qualify as a second home, the property typically must be at least 50 miles from the primary residence, and it cannot appear that the real estate is being purchased for rental investment purposes. Investment Property. A property that is not occupied by the owner and is typically utilized for rental income purposes.
Cost Basis. When you sell an investment property, the IRS will charge you capital gains tax on any profits you make, after accounting for your tax basis in the property. Your basis is the total of all expenses you paid for the purchase and improvement of the property for which you have not already taken a tax deduction. The higher your tax basis, the lower your capital gains tax liability when you sell the property (albeit the lower your theoretical profits, as well).