General Explanation of the Tax Reform Act of 1986: (H.R. 3838, 99th Congress; Public Law 99-514)U.S. Government Printing Office, 1987 - 1379 pages |
From inside the book
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Page 215
... interests in oil and gas property are not limited by the provision . Losses and credits attributable to a limited partnership interest generally are treated as arising from a passive activity . The provision is effective for taxable ...
... interests in oil and gas property are not limited by the provision . Losses and credits attributable to a limited partnership interest generally are treated as arising from a passive activity . The provision is effective for taxable ...
Page 216
... interest in a trade or business activity directly ( e.g. , as a proprietorship ) , or owns an interest in an activity conducted at the entity level by a passthrough entity such as a general partnership or S corporation , he must be ...
... interest in a trade or business activity directly ( e.g. , as a proprietorship ) , or owns an interest in an activity conducted at the entity level by a passthrough entity such as a general partnership or S corporation , he must be ...
Page 217
... interest in oil or gas property is permitted to deduct otherwise al- lowable losses attributable to the working interest whether or not he materially participates in the activity being conducted through the working interest . A passive ...
... interest in oil or gas property is permitted to deduct otherwise al- lowable losses attributable to the working interest whether or not he materially participates in the activity being conducted through the working interest . A passive ...
Page 218
... interest ( which meets the definition of qualified residence interest ) is allocable to rental use of the home which would otherwise be treated as a passive activity , such interest expense is not subject to disallowance under this ...
... interest ( which meets the definition of qualified residence interest ) is allocable to rental use of the home which would otherwise be treated as a passive activity , such interest expense is not subject to disallowance under this ...
Page 226
... interest in activity . The type of disposition that triggers full recognition of any loss from a passive activity ( and of suspended losses from a former passive activity ) is a fully taxable disposition of the taxpayer's entire interest ...
... interest in activity . The type of disposition that triggers full recognition of any loss from a passive activity ( and of suspended losses from a former passive activity ) is a fully taxable disposition of the taxpayer's entire interest ...
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Common terms and phrases
Act provides adjusted allocated allowed alternative minimum tax amount annuity assets basis benefits cafeteria plan capital gain Congress believed Congress intended contract contributions costs coverage December 31 deduction depreciation determined distribution dividends Effective Date elective deferrals eligible ESOP example excess excludable expenses Explanation of Provision Finance foreign tax foreign tax credit gross income H.Rep highly compensated employees income tax incurred individual interest Internal Revenue Service investment itemized deductions LIFO limitation line of business loan ment method million in 1989 minimum tax ordinary income paid participant partnership payments percent percentage period placed in service prior and present prior law qualified cash qualified plan real property reflects this intent REIT REMIC rental respect shareholders standard deduction statute reflects tax credit tax liability tax purposes tax-exempt taxable income taxable years beginning taxpayer technical correction tion trade or business Treasury treated