Description of Miscellaneous Tax Bills Listed for a Hearing Before the Subcommittee on Taxation and Debt Management Generally of the Committee on Finance on April 25, 1980U.S. Government Printing Office, 1980 - 31 pages |
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acquisition indebtedness adjusted gross income amount artificial bait beetle bill The bill bill would apply bill would provide bill would reduce business expense test capital gain CCH Tax Ct cents per mile charitable contribution Code sec communications satellites corporation credit base date of enactment date The bill debt-financed income rules December 31 Dutch elm disease earnings and profits Effective date employee excise tax Exempt Organizations fair market value filing a separate finance business finance company foreign investment company foreign tax credit fungus Incentive Stock Options Internal Revenue Service investment tax credit Issue The issue Joint return lending or finance Married individuals filing million in fiscal option price ordinary gross income personal holding company phloem necrosis present law qualified crop contribution qualified stock options real property reduce budget receipts Revenue Act Revenue effect separate return sold tax-exempt taxable years beginning taxpayer Tillamook County tion trade or business U.S. sources
Popular passages
Page 30 - A debt constitutes acquisition indebtedness with respect to property if the debt was incurred in acquiring or improving the property, or if the debt would not have been incurred "but for...
Page 4 - If an option to which this section applies does not have a readily ascertainable fair market value at the time the option is granted, the...
Page 6 - In general, debt-financed property is defined as "any property which is held to produce income and with respect to which there is acquisition indebtedness
Page 26 - A corporation qualifies as a lending or finance company if 60 percent of its ordinary gross income is derived from the active and regular conduct of a lending or finance business and certain other requirements are satisfied.
Page 26 - ... installment obligations evidenced or secured by contracts of conditional sale, chattel mortgages, or chattel lease agreements, arising out of the sale of goods or services in the course of the...
Page 22 - In the case of those restricted stock options where the option price was at least 95 percent of the market price of the stock at the time the option was granted, the entire amount of any gain realized by the employee at the time he sold the stock was treated as capital gain.
Page 16 - ... the lease produces a tax loss during its early years to the lessor (primarily as a result of accelerated depreciation or amortization deductions).
Page 30 - For purposes of this section, the term "debt-financed property" means any property which is held to produce income and with respect to which there is an acquisition indebtedness...
Page 12 - Except as provided in subparagraph (2) of this paragraph, the loss incurred in a trade or business or in a transaction entered into for profit...
Page 4 - Present law In general, gain on the sale of stock in a foreign corporation which is a foreign investment company is treated as ordinary income to the extent of the selling shareholder's portion of its earnings and profits. A foreign investment company is...