Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 2000 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
accumulation distribution adjusted basis ADJUSTED PAYOUT RATE adjusted tax basis allocated annuity apply April 30 assets attributable basis adjustment beneficiary capital account cash chargeback charitable remainder cluded computed contributed contributed property corpus decedent December 31 deemed distributed depreciation described in section determined distributable net income distributive share dividends duction election erty extent fair market value ficiary foreign trust created gain or loss grantor graph gross income included insurance company investment justment less liquidation ment method nership nonrecourse debt nonrecourse liability November 30 ordinary income paid paragraph partnership agreement partnership interest partnership minimum gain partnership property partnership taxable payment percent period pooled income fund portion preceding taxable prior prop purposes of section pursuant received remainder interest reserves section 754 ship subchapter subparagraph subpart TABLE taxable income taxable years beginning taxes imposed terest termination tion treated tribution trust instrument U.S. person valuation date
Popular passages
Page 297 - 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 542 - Insurance, if — (1) its life Insurance reserves (as defined in subsection (b)), plus (2) unearned premiums, and unpaid losses (whether or not ascertained), on noncancellable life, health, or accident policies not included in life insurance reserves, comprise more than 50 percent of its total reserves (as defined in subsection (c) ) . (b) Life insurance reserves defined. (1) In general. For purposes of this part, the term "life insurance reserves...
Page 560 - ... company or association exclusively for the payment of claims arising under certificates of membership or policies issued upon the assessment plan and not subject to any other use.
Page 286 - October 10, 1969, the grantor is treated, under section 677, in any taxable year as the owner (whether or not he is treated as an owner under section 674) of a portion of a trust of which the income for the taxable year or for a period not within the exception described in paragraph (e) of this section is, or in the discretion of the grantor or a nonadverse party, or both (without the approval or consent of any adverse party...
Page 561 - Life insurance companies issuing policies covering life, health, and accident insurance combined in one policy issued on the weekly premium payment plan, continuing for life and not subject to cancellation...
Page 93 - The amounts specified in subsection (a) shall have the same character in the hands of the beneficiary as in the hands of the trust. For this purpose, the amounts shall be treated as consisting of the same proportion of each class of items entering into the computation of distributable net income of the...
Page 564 - In computing the gross income from any trade or business (other than an insurance business) carried on by the life insurance company...
Page 560 - For purposes of this part, the term "life insurance reserves" means amounts — (A) which are computed or estimated on the basis of recognized mortality or morbidity tables and assumed rates of interest, and (B) which are set aside to mature or liquidate, either by payment or reinsurance, future unaccrued claims arising from life insurance, annuity, and noncancellable health and accident insurance contracts (including life insurance or annuity contracts combined with noncancellable health and accident...
Page 247 - ... (1) amounts paid, credited, or required to be distributed to a beneficiary as income accumulated before the birth of such beneficiary or before such beneficiary attains the age of 21...
Page 548 - ACCOUNT. —For purposes of this part, a "contract with reserves based on a segregated asset account" is a contract— (i) which provides for the allocation of all or part of the amounts received under the contract to an account which, pursuant to State law or regulation, is segregated from the general asset accounts of the company.