Any distributions in excess of earnings and profits for the year would be classified as nontaxable returns of capital to the extent they do not exceed a shareholder's adjusted tax basis
in the Company's stock, or as a capital gain to the extent that the amount of the distribution exceeds a shareholder's adjusted tax basis
in the Company's stock.
The amount of the loss would be the adjusted tax basis
of the property that is abandoned or destroyed.
6045 for brokers to report proceeds and adjusted tax basis
for the sale or exchange of certain debt instruments, securities futures contracts, and options on Form 1099-B.
The aggregate gross assets (defined generally as cash plus the aggregate adjusted tax basis
of other property) held by the small business must not exceed $50,000,000 at any time before or immediately following the investment by the investor (including amounts received by the small business from the investor).
22) The trust would acquire an outside adjusted tax basis
in the partnership interest under I.
29) The adjusted tax basis
of an asset is, again, determined in the owner's functional currency, using the spot or historical exchange rate, as appropriate, depending on the asset.
The tax gain is determined based on a complex procedure set forth in the MITL which in general terms consists of deducting the adjusted tax basis
of the stock from the purchase price.
When an investor sells, exchanges or redeems a mutual fund share, the gain or loss generally equals the amount realized (sales price less expenses of sale) minus the share's adjusted tax basis
(IRC section 1001).
Federal income tax principles), with any amount in excess of such current or accumulated earnings and profits treated as a non-taxable return of capital, to the extent of the shareholder's adjusted tax basis
in the holder's shares, and with any amount in excess of such current or accumulated earnings and profits and the holder's adjusted tax basis
treated as a capital gain.
Generally, in the case of a partnership's distribution to a partner, gain is not recognized except to the extent that any money distributed exceeds the adjusted tax basis
of the partner's interest in the partnership immediately before the distribution (Sec.
As for the tax consequences, any capital gain or loss will be calculated as the difference between the amount of outstanding debt and the adjusted tax basis
of the properly.
If the fair market value of such real estate assets has decreased below the developer's adjusted tax basis
, the sale or transfer of such assets will generally trigger an ordinary loss to the developer.