Sentences with phrase «for federal income tax purposes»

Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.

Any distributions resulting from such gains will be considered ordinary income for federal income tax purposes.

You will pay essentially zero percent on the gains for federal income tax purposes as long as that is your taxable income based upon your tax return.

The number one perk of these savings accounts is that the earnings from the investment as well as any withdrawals from the account are not taxable for federal income tax purposes.

A municipal bond whose interest is not excluded from the gross income of its owners for federal income tax purposes.

Interest paid on bonds issued by states or municipalities that is tax - free for federal income tax purposes.

Residents are taxed on the same income they report for federal income tax purposes, subject only to the specific modifications allowed under state law.

It has elected to be taxed as a real estate investment trust for federal income tax purposes.

But what is good for workers for employment / labor law purposes may not be so good for workers for federal income tax purposes.

The form also shows how much, if any, was withheld from your benefit payments for federal income tax purposes.

All donations are tax deductible for federal income tax purposes.

The death benefit on a life insurance policy is not taxable for federal income tax purposes.

Contributions to AMERICAblog are not deductible as charitable contributions for federal income tax purposes.

The Service will not challenge the qualification of property as either «replacement property» or «relinquished property» (as defined in Section 1.1031 (k)-1 (a)-RRB- for purposes of Section 1031 and the regulations thereunder, or the treatment of the exchange accommodation titleholder as the beneficial owner of such property for federal income tax purposes, if the property is held in a QEAA.

Each Fund reports the character of distributions for federal income tax purposes each calendar year on Form 1099 - DIV.

The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

The change in the current tax law regarding MLPs could result in the MLP being treated as a corporation for federal income tax purposes which would reduce the amount of cash flows distributed by the MLP.

The Michigan Animal Adoption Network is a Section 501 (c) 3 nonprofit and your donation may qualify as a charitable deduction for federal income tax purposes.

Personal household effects, registered aircraft, licensed vehicles, certain personal property warehoused in the state, and business personal property that is not depreciated for federal income tax purposes are exempt from the tax.

Prior to the 2013 Windsor ruling, the value of healthcare benefits provided to a same - sex spouse was considered taxable income to the employee for federal income tax purposes.

A conversion from Investor Class shares to Institutional Class shares of the Fund or from Institutional Class shares to Investor Class shares of the Fund pursuant to the preceding paragraphs should generally not be a taxable exchange for federal income tax purposes.

Fortunately, there are many ways to acquire tax ownership of property that can involve the use of certain business entities or trusts that are disregarded for federal income tax purposes.

With a 529 plan, all contributions are made post-tax for federal income tax purposes.

Distributions may include amounts characterized for federal income tax purposes as ordinary dividends (including qualified dividends), capital gain distributions and nondividend distributions, also known as return of capital distributions.

Interest earned on EE bonds with January 1, 1990, and later issue dates may qualify for exclusion from income for Federal income tax purposes if the owner pays his or her tuition and required fees or those of his or her spouse or legally dependent children at colleges, universities, and qualified technical schools during the year eligible bonds are redeemed.

Under existing tax law, windmill owners can use 5 - year double declining - balance accelerated depreciation for federal income tax purposes.

Each individual that co-invests in or through a Delaware Statutory trust or DST is a beneficiary of the Delaware Statutory Trust and therefore owns a «beneficial interest» in the DST for Federal income tax purposes.

With a three - member LLC, your options for federal income tax purposes are to (1) have the LLC treated as a partnership, or, (2) have the partnership treated as a corporation.

Thrift Savings Plan payments are taxable as ordinary income for Federal income tax purposes for the year in which they are disbursed.

For those programs that have attained IRS 501 (C0 (3) satus, your contribution may be deductible for federal income tax purposes as a charitable contribution.

This procedure provides a safe harbor under which the Service will not challenge (a) the qualification of property as either «replacement property» or «relinquished property» for purposes of section 1031 of the Code or (b) the treatment of the» «exchange accommodation titleholder» as the beneficial owner of such property for federal income tax purposes, if the property is held in a «qualified exchange accommodation arrangement» (QEAA).

Municipal bonds may be obligations of a variety of issuers including governmental entities or other qualifying issuers, the payments from which, in the opinion of bond counsel to the issuer, are excludable from gross income for Federal income tax purposes.

* HSA contributions, earnings, and distributions used to pay for qualified medical expenses are tax free for federal income tax purposes.