BLAENAU GWENT Ind
gain from Lab Ind gain 16, PC gain 1, Lab lose 17.
HERE ARE HOW THE PARTIES FINISHED IN EACH OF WALES' 22 LOCAL AUTHORITIES..
dollar, many taxpayers will have unrecognized section 987
gain from earlier years.
The new proposed section 987 regulations
751 requires recognition of
gain from "hot assets" as ordinary income.
Liquidation of an LLC member interest
This part of the tax code excludes the first $250,000 ($500,000 in the case of joint filers) of home sale
gain from tax if certain conditions are met.
Home sweet home: ascertaining the tax basis of a personal residence
Fifth: Part of the
gain from the developed project's sales, which is taxed at ordinary rates, should be allocated to the S corp to properly compensate the S corp for its development activities.
Lower rates: planning strategies to sell real estate at lower long-term capital gain rates
Those who have rolled over gains in the past may find the tax cost on their current homes so low that it throws the
gain from a current sale well over the $500,000 threshold.
What the capital gains tax law means to you
1231(a), if the property so qualifies, any net gain recognized on its sale is characterized as
gain from the sale of a capital asset; any net loss is characterized as ordinary, subject to certain recapture provisions under Sec.
Intangibles - amortization recapture and allocation of sales price
Because of California's high income tax rates, many clients will be subject to the AMT where they have a large amount of taxable
gain from the sale of their business.
Buyers and sellers: tax strategies for buying and selling businesses
An individual or business taxpayer elects a section 1033 deferral simply by omitting a
gain from its return for the year it realizes that gain as a result of an involuntary conversion.
The timing of section 1033 elections: the IRS issues guidance on the nuances of delayed and revoked elections
On August 12, 1994, Treasury issued final consolidated return regulations governing ELAs in a subsidiary's stock.(115) These regulations provide, in general, that an ELA is treated for all federal income tax purposes as negative basis.(116) If the parent corporation is treated as disposing of the subsidiary's stock, the parent is required to take into account its ELA as income or
gain from such disposition.(117)
The new anti-Morris trust and intragroup spin provisions
Before the new regulations, capital gain was normally excluded from distributable net income (DNI), because most state laws excluded capital
gain from trust income.
New sec. 643 trustee capital gain and loss carryout regs
24, the IRS published final, temporary and proposed regulations regarding the exclusion of
gain from the sale or exchange of a principal residence under IRC Sec.
Home seller's gain: New regs favorably interpret 1997 taxpayer relief act. (Federal Tax)
Any remaining net short-term capital loss would then be applied to reduce any net long-term capital
gain from each of the tax rate groups, starting with the 28% group.
New capital netting rules
Under regulations relating to the computation of gross foreign oil and gas extraction income (FOGEI), a stock loss is allocated and apportioned to the same class of income that would have been produced if there were capital
gain from the sale.
Sourcing of capital losses
A single taxpayer who has owned and used a residence as a principal residence for two of the five years prior to its sale may exclude up to $250,000 of the
gain from disposition of the property.
Sale of a residence and like-kind exchanges (Part I: this two-part article examines how recent developments in the principal residence exclusion and like-kind exchanges affect mixed personal- and business-use property. Part I describes the basic interaction between Secs. 121 and 1031.)