Sentences with phrase «irc sec.»

With respect to your rental investment property the only way you may avoid recognizing any gain on the sale of the property, is to properly complete an IRC Sec. 1031 exchange into another piece of real property (i.e. another piece of land or rental property).

The penalty for engaging in a transaction forbidden by Internal Revenue Code (IRC) Sec. 408 differs from the penalty of IRC Sec. 4975.

IRC Sec. 408 (e) stipulates that when an IRA is involved in a transaction which is prohibited under IRC Sec. 4975, the plan loses its tax - exempt status and the IRA holder is deemed to have received a distribution on the first day of the tax year in which the prohibited transaction occurred.

Alternatively, an S corporation would treat those expenses as start - up expenditures under IRC Sec. 195.

Once the S corporation begins the active conduct of the trade or business, it can deduct / amortize the costs as provided by IRC Sec. 195.

Although employers pay for HRAs, an HRA can not be provided by salary reduction or IRC Sec. 125 plans.

Reimbursements for insurance covering medical care expenses, as defined in IRC Sec. 213 (d), which includes qualified long - term care services and qualified long - term care insurance premiums are allowable under an HRA.

In addition to the annual Gift Tax Exclusion of $ 13,000 per donee, a donor has the ability to pay for the medical expenses of the donee [IRC Sec. 2503 (e)-RSB-.

The annual reporting requirements imposed under the IRC Sec. 6039I include:

Jeffrey Marks presents Just Passing Through: The New IRC Sec. 199A Pass - Through Business Deduction, for members of Entrepreneurs of New York.

This is per the IRC Sec. 195.

See IRC Sec. 72 (t)(2)(D) for details.

A non-resident alien is only allowed for deductions connected to producing a US - sourced income (See IRC Sec. 873).

An eligible employer - sponsored retirement plan is an IRC Sec. 401 (a) or 403 (a) qualified retirement plan (QRP), a tax - sheltered annuity (403 (b) plan), or a governmental 457 (b) plan.

Not exact matches

The tax act in Sec. 13303 amends IRC Section 1031 (a)(1) to delete «property» and replace it with «real property»... So, you can see that now I can no longer take the position that my Bitcoin to Litecoin exchange was a like kind one under Sec. 1031, and I have to recognize the gain when I do it.

Suzanne Walsh, a partner at the law firm Murtha Cullina, mentioned to Fortune magazine, «The tax act in Sec. 13303 amends IRC Section 1031 (a)(1) to delete «property» and replace it with «real property»...