The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1985 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
accumulation distribution adjusted basis ADJUSTED PAYOUT RATE allowed amount annuity apply attributable beneficiary capital loss carryback carryover charitable remainder Code company taxable income contracts credited decedent December 31 deemed distributed defined in section described in section determined distributable net income duction estate or trust estate tax example excess fair market value foreign trust created gain or loss grantor graph gross income included insurance company taxable Internal Revenue Code investment yield justment liability loss from operations ment mutual insurance mutual insurance company nership ordinary income paid paragraph partner partnership property payment percent pooled income fund portion preceding taxable premiums PRESENT WORTH PROPERTY TRANSFERRED provided in section provisions of section received reinsured REMAINDER INTEREST section 751 SHOWING THE PRESENT Subchapter subparagraph Subpart taken into account tax imposed tax-exempt interest taxable investment income taxable years beginning term tion treated tributed trust instrument U.S. person UNITRUST Yearly rate
Popular passages
Page 326 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation ; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 244 - The person who, by reason of the death of the decedent, acquires the right to receive the amount, if the right to receive the amount is not acquired by the decedent's estate from the decedent; or...
Page 14 - Income which Is to be distributed currently by the fiduciary to the beneficiaries, and Income collected by a guardian of an Infant which Is to be held or distributed as the court may direct...
Page 79 - The amount of income for the taxable year which is required to be distributed currently, and (2) Any other amounts properly paid or credited or required to be distributed for such taxable year.
Page 270 - With respect to partnerships in which capital is a material income-producing factor, section 704(e)(1) provides that a person shall be recognized as a partner for income tax purposes if he owns a capital interest in such a partnership whether or not such interest is derived by purchase or gift from any other person.
Page 225 - ... erminating with the date prescribed by the postponement. However, income for any period shall not be included in the income of the grantor by reason of the preceding sentence if such income would not be so includible in the absence of such postponement.
Page 326 - A joint undertaking merely to share expenses is not a partnership. For example, if two or more persons jointly construct a ditch merely to drain surface water from their properties, they are not partners. Mere coownership of property which is maintained, kept in repair, and rented or leased does not constitute a partnership. For example, if an individual owner, or tenants in common, of farm property lease it to a farmer for a cash rental or a share of the crops, they do not necessarily create a partnership...
Page 321 - In the case of a sale or exchange of an Interest in a partnership, liabilities shall be treated in the same manner as liabilities in connection with the sale or exchange of property not associated with partnerships.
Page 223 - The grantor's father, mother, issue, brother or sister; an employee of the grantor; a corporation or any employee of a corporation in which the stock holdings of the grantor and the trust are significant from the viewpoint of voting control; a subordinate employee of a corporation in which the grantor is an executive. For purposes of sections 674 and 675, a related or subordinate party...
Page 453 - Amortization of premium and accrual of discount. (1) In general. The appropriate items of income, deductions, and adjustments under this part shall be adjusted to reflect the appropriate amortization of premium and the appropriate accrual of discount attributable to the taxable year on bonds, notes, debentures, or other evidences of indebtedness held by a life insurance company. Such amortization and accrual shall...