The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1990 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Page 12
... tion 1304 ( e ) ( 2 ) , the 87 - percent limita- tion shall apply only to the tax equal to the tax imposed by section 1 , re- duced by the amount of the tax im- posed by section 1 which is attributa- ble to capital gain net income for ...
... tion 1304 ( e ) ( 2 ) , the 87 - percent limita- tion shall apply only to the tax equal to the tax imposed by section 1 , re- duced by the amount of the tax im- posed by section 1 which is attributa- ble to capital gain net income for ...
Page 24
... tion is allowed with respect to since D has gross income and a joint return was not filed . Example ( 3 ) . D , a ... tion of standard deduction . Section 144 ( a ) and the regulations thereunder provide rules for treating an election to ...
... tion is allowed with respect to since D has gross income and a joint return was not filed . Example ( 3 ) . D , a ... tion of standard deduction . Section 144 ( a ) and the regulations thereunder provide rules for treating an election to ...
Page 29
... tion 3 were to be changed , section 21 would be applicable to that change . Thus , if the bracket relating to " at least $ 4,200 but not less than $ 4,250 " for heads of households should be changed to increase or decrease the last sum ...
... tion 3 were to be changed , section 21 would be applicable to that change . Thus , if the bracket relating to " at least $ 4,200 but not less than $ 4,250 " for heads of households should be changed to increase or decrease the last sum ...
Page 37
... tion or any other energy - conserving component , or for labor costs allocable to the original installation of such ... tion is completed . See § 1.23-3 ( e ) for the definition of principal residence . ( ii ) The dwelling unit is ...
... tion or any other energy - conserving component , or for labor costs allocable to the original installation of such ... tion is completed . See § 1.23-3 ( e ) for the definition of principal residence . ( ii ) The dwelling unit is ...
Page 42
... tion or conservation purposes , or ( ii ) Is provided out of funds desig- nated specifically for energy produc- tion or conservation . Loan proceeds meet the use test of paragraph ( i ) ( 1 ) ( i ) of this section only to the extent ...
... tion or conservation purposes , or ( ii ) Is provided out of funds desig- nated specifically for energy produc- tion or conservation . Loan proceeds meet the use test of paragraph ( i ) ( 1 ) ( i ) of this section only to the extent ...
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Common terms and phrases
adjusted basis adjusted gross income amended amount applicable financial statement apply apportioned asset attributable book income building calendar capital gains carryback carryover Code computed cost credit allowed credit earned December 31 deduction depreciation determined earned income electing small business energy credit equipment estate or trust Example excess Federal filed film foreign tax credit graph gross income housing credit allocation income tax individual Internal Revenue Code itemized deductions items of tax January lease lessee limitation ment minimum tax mortgage credit certificate net book income operating loss paid or incurred partnership percent period placed in service portion progress expenditures purposes qualified investment qualified rehabilitation recomputed reduced relating renewable energy requirements research expenses respect section 38 property shareholder spect subdivision subparagraph taken into account tax imposed tax liability tax preference taxable income taxable year ending taxable years beginning taxpayer trade or business TRASOP treated United unused wages WIN expenses
Popular passages
Page 115 - ... (B) who Is a child of the taxpayer and who (1) has not attained the age of 19 at the close of the calendar year in which the taxable year of the taxpayer begins, or (11) Is a student.
Page 73 - Earned income" means wages, salaries, professional fees, and other amounts received as compensation for personal services actually rendered, but does not include any amount not included in gross income, nor that part of the compensation derived by the taxpayer for personal services rendered by him to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation...
Page 377 - ... 50 percent of the total value of the shares of all classes of stock of another corporation, then such person (or persons) shall be treated as in control of such other corporation.
Page 438 - ... there shall then be included in computing the taxable income and credits of the grantor or the other person those items of income, deductions, and credits against tax of the trust which are attributable to that portion of the trust to the extent that such items would be taken into account under this chapter in computing taxable income or credits against the tax of an individual.
Page 9 - Joint return with his spouse under section 6013 for the taxable year beginning in the calendar year in which the taxable year of the taxpayer begins. (3) Child defined. For purposes of paragraph (1) (B), the term "child...
Page 255 - For purposes of this section, the terms "controlled group of corporations" and "component member" of a controlled group of corporations shall have the same meaning assigned to those terms in section 1563 (a) and (b), except that the phrase "more than 50 percent" shall be substituted for the phrase "at least 80 percent" each place it appears in section 1563(a)(1).
Page 244 - Is used by transients. (4) Property used by certain tax-exempt organizations. Property used by an organization (other than a cooperative described In section 521) which Is exempt from the tax Imposed by this chapter...
Page 424 - If an option to which this part applies is exercised after the death of the employee by the estate of the decedent, or by a person who acquired the right to exercise such option by bequest or inheritance or by reason of the death of the decedent...
Page 242 - States; (vi) Any property (other than a vessel or an aircraft) of a US person which is used for the purpose of exploring for, developing, removing, or transporting resources from the outer Continental Shelf (within the meaning of section 2 of the Outer Continental Shelf Lands Act, as amended and supplemented; 43 USC, sec. 1331).
Page 178 - The taxpayer's cost of service, for ratemaking purposes or in its regulated books of account, is reduced by more than a ratable portion of such credit...