Sentences with phrase «taxable years the adjustment»

In subsequent taxable years the adjustment will be an addition for gain attributable to any payments made during the taxable year with respect to the disposition.

Not exact matches

The difference between the option exercise price and the fair market value of the Shares on the exercise date is treated as an adjustment in computing the optionee's alternative minimum taxable income and may be subject to an alternative minimum tax which is paid if such tax exceeds the regular tax for the year.

TIPS are a nuisance in a taxable account because you must pay taxes on the increase in principal (the inflation adjustment) each year, not at maturity.

Your gross income is the total taxable income you received for the year; adjusted gross income is your gross income minus certain adjustments.

NOLs may be carried forward to offset federal and state taxable income in future years and eliminate income taxes otherwise payable on such taxable income, subject to certain adjustments.

In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which federal law does not permit the dealer to elect installment reporting of income, and (ii) the dealer elects installment treatment of the income for Virginia purposes on or before the due date prescribed by law for filing the taxpayer's income tax return.

Any increase in principal for an inflation protected security resulting from inflation adjustments is considered by the IRS to be taxable income in the year it occurs.

Subsection 247 (3) applies to the full amount of an adjustment for a taxation year, rather than to any increase in taxable income or tax payable.