capital gains

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capital gains

see CAPITAL GAINS TAX.
References in periodicals archive ?
With falling tax rates on capital gains seemingly reducing the value of a tax break these days, many property owners have asked me, "Are 1031 exchanges still a smart more?
Also, for many taxpayers who claimed the Chin lax Credit last year, the Treasury mailed checks as an advance payment of the credit's increase, The new tax law also lowered the tax rates for long term capital gains and qualifying dividends, allowing taxpayers to reduce their estimated tax payments for the year following May 2003.
Nevertheless, the court held the taxpayer was entitled to capital gains.
Under existing law, these 15 percent, 5 percent and 0 percent rates on adjusted net capital gains would be in effect through 2008.
But they have been reluctant to sell because of stiff capital gains taxes.
Conclusion: Existing case law strongly supports the equal application of the underlying unitary standard to dividends, interest income, and capital gains.
First, if either local law or the trust instrument includes capital gain in trust income, then capital gain is included in DNI.
For the client to not be classified as a dealer taxed at ordinary rates, and instead receive long-term capital gain treatment, the client could use IRC Sec.
These losses can also offset capital gains distributions from mutual funds.
Thus, it is imperative that corporations follow the standards set forth in the above cases to discourage the IRS from attacking capital gain treatment.
Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, long-term capital gains (i.
Since individuals (including S corporation shareholders) prefer capital gains to ordinary income--as do corporations with capital losses--the character issue may be significant.