Sentences with phrase «revenue code section»

Internal Revenue Code Section 1031: Section 1031 of the Internal Revenue Code allows an investor to defer his capital gain and depreciation recapture income tax liabilities when he exchanges relinquished property for like - kind or like - class replacement property.

Principal Residence Exemption: Exclusion from capital gain tax on the sale of principal residence of $ 250,000 for individual Investors and $ 500,000 for couples, filing jointly, under Internal Revenue Code Section 121.

Each 1031 exchange must follow strict rules as defined in Internal Revenue Code Section 1031.

Internal Revenue Code Section 121 (d)(11) was amended per section 840 of the 2004 legislation for the property acquired as replacement property in a 1031 exchange, rented for two years, converted and later sold as a personal residence.

Combined with an Internal Revenue Code Section 1031 («IRC § 1031») tax - deferred exchange, this might be an option for those individuals wishing to escape the burdens of the real estate management business in favor of owning an interest in a high - grade property without all the typical administrative responsibilities.

In the Internal Revenue Code Section 1031, a 1031 exchange holding period is not defined, though the IRS recognizes that two years is sufficient.

Real estate investors should be familiar with the requirements of the Internal Revenue Code Section 1031 exchange.

The Internal Revenue Code Section 1031 requires meticulous attention to the rules.

Also, if you're younger than 59 1/2, check out Internal Revenue Code Section 72t, which describes how you can take penalty - free early retirement account withdrawals.

Your IRA may not buy an investment from or sell an investment to a disqualified person as defined by Internal Revenue Code Section 4975.

Following guidelines is especially important in a 1031 exchange so as not to violate the g (6) limitations of constructive receipt of the Internal Revenue Code Section 1.1031.

Mineral interests such as oil and gas are eligible for a 1031 exchange deferring federal and state capital gain taxes given the transactions satisfy the Internal Revenue Code Section 1031 requirements.

Internal Revenue Code Section 1031 and Treasury Regulations provides a welcome relief for those taxpayers who replace their assets by potentially indefinitely deferring the federal and state capital gain by engaging a Qualified Intermediary to accommodate a 1031 exchange.

According to the Internal Revenue Code Section 1.1031, 1031 exchange allows no gain to be recognized when property held for productive use in business or for investment is exchanged for like - kind property held for productive use in business or for investment.

A 1031 improvement exchange is one of many types of 1031 exchanges that follow the same strict rules defined in Internal Revenue Code Section 1031.

Internal Revenue Code Section 1.1031 provides for the taxes triggered on the sale or real or tangible and intangible personal property to be deferred indefinitely or until the replacement property is sold.

Internal Revenue Code Section 1031 is one of the last great tax advantages that allows an investor to maximize dollars invested while creating an avenue for estate planning through the continued deferral of gains (or losses) in the real estate investing process.

NAR opposes any erosion of the statutory provision of the the Internal Revenue Code Section 3508, which provides clear directives about how a real estate broker may classify his / her sales agents as independent contractors.

One of the most useful tools for helping clients sell appreciated business, farm, and investment real estate is the Internal Revenue Code Section 1031 like - kind exchange.

This advanced course provides a concise and thorough overview of Internal Revenue Code Section 1031 tax - deferred exchanges.

For example, the agency has been silent on whether virtual currency investments qualify under the like - kind exemption found in Internal Revenue Code Section 1031.

The exchange provisions under Internal Revenue Code section 1035 allow certain types of exchanges from one policy type to another without adverse tax consequences.

Any money that is not spent on nursing care benefits will be distributed to your heirs as an income tax - free death benefit under Internal Revenue Code Section 101 (a)(1).

The Internal Revenue Code Section 7702 is all about cash value life insurance.

Generally, the Internal Revenue Code Section 7702 implicates to place limits on the orientation of the investment in life insurance contracts in two either ways, by imposing minimum amount of death benefits and by restricting the allowed premium payment as written and mandated in the contract or both.

Internal Revenue Code section 7702 sets limits for how much cash value can be allowed and how much premium can be paid (both in a given year, and over certain periods of time) for a given death benefit.

Various requirements apply to coverage offered under «cafeteria plans» subject to Internal Revenue Code Section 125, including minimum eligibility and participation requirements.

Internal Revenue Code Section 7702 Section 7702 is a portion of the Internal Revenue Code that describes certain conditions that life policies should satisfy in order to qualify as life insurance contract that has tax advantages.

Indicated in the Internal Revenue code Section 1035 Exchange is the provisions that focuses on the life insurance of most policyholders in the event of sale or surrender of the policy which is considered to be not a good act to be done.

(In MN, death benefit proceeds from a life insurance policy are generally not included in the gross income of the taxpayer / beneficiary (Internal Revenue Code Section 101 (a)(1).

By amending the Internal Revenue Code Section 7704 (d) to include revenues from the generation and sale of electricity produced from clean energy sources as qualifying income, clean energy projects could qualify as MLPs.

In the USA, what qualifies as «taxable income» is defined in the Internal Revenue Code Section 63.

A plan that meets the requirements of Internal Revenue Code Section 401 (a) and the Employee Retirement Income Security Act of 1974 (ERISA) and is thus eligible for favorable tax treatment.

Code § 58.1 - 15 sets the interest rate for late payments at the federal underpayment rate established under Internal Revenue Code Section § 6621, plus 2 percent.

A common but often misunderstood principle among those familiar with tax deferred exchanges under Internal Revenue Code Section 1031 is the notion that the vesting of the replacement property acquired in the exchange must match the vesting of the property sold by the taxpayer.

The definition for «qualified parking» is in the Internal Revenue Code Section 132 («Certain Fringe Benefits»)(f)(5)(c): (C) Qualified parking The term «qualified parking» means parking provided to an employee on or near the business premises of the...

Then you can set up an Internal Revenue Code Section 105 medical reimbursement plan for your business.

Under Internal Revenue Code Section 121, a married couple is permitted to exclude $ 500,000 of gain, and a single taxpayer may exclude $ 250,000.

This is the account application used by trusts or estates, business entities, Internal Revenue Code Section 501 (c)(3) organizations, or state / local governments.

The exclusion from debt discharged in bankruptcy from your income tax bill is codified in the Internal Revenue Code section 108 (a)(1)(A) which provides:

Each fund hereby designates its distribution of a long - term capital gain dividend to its shareholders under Internal Revenue Code Section 852 (b)(3).

But, while most of those pages say: «add the following text here», other pages say things like «delete Internal Revenue Code Section 199», so not all of the 182 pages of the bill amending the Internal Revenue Code adds text, some of the bill deletes text or adds only a word or two here or there in redline fashion to a larger paragraph that is restated in redline form in which identifying where to put the amended language takes much more space than the new language itself.

Kids In Danger is a not - for - profit organization recognized as tax - exempt under Internal Revenue Code section 501 (c)(3).

Each fund hereby designates its distribution of a long - term capital gain dividend to its shareholders under Internal Revenue Code Section 852 (b)(3).

Because of the limitations of Internal Revenue Code Section 162 (m), we generally receive a federal income tax deduction for compensation paid to our chief executive officer and to certain other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any fiscal year or is «performance - based» under Code Section 162 (m).

The Internal Revenue Code sections 72 (t) and 72 (q) allow for penalty - free early withdrawals from retirement accounts.

Ms. Levy specializes in all tax aspects of the Affordable Care Act, including the «Cadillac Tax», employer shared responsibility, the new tax reporting requirements of the Internal Revenue Code sections 6055 and 6056, and premium tax credits and cost - sharing reductions.

Her work included guidance on the employer mandate, the premium tax credits and cost - sharing reductions, and the new tax reporting requirements of Internal Revenue Code sections 6055 and 6056.

Not exact matches

The Fiduciary Rule also applies to the definition of a «fiduciary» of a plan (including an individual retirement account (IRA)-RRB- under section 4975 (e)(3)(B) of the Internal Revenue Code of 1986 (Code).

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.