MORTGAGE INTEREST THAT qualifies
as home acquisition debt--to buy, build or substantially improve up to two residences--is fully deductible in the year paid.
Jeff's attendance at the local computer programming seminar qualifies as educational assistance, even though it is not directly related to his current job and may help qualify him for a new trade or business.
Although Stan's reimbursement is for graduate-level courses, it qualifies for the Sec.
The $100X incurred to develop documentation that supports the research function qualifies
as research or experimental expenditures within the meaning of section 174.
338 dictate otherwise, the integrated asset acquisition in Situation 1 is properly treated as a statutory merger of T into X that qualifies as a Sec.
338 is not violated by treating Situation 1 as a single statutory merger of T into X; such treatment results in a transaction that qualifies as a Sec.
The transaction is treated as a single statutory merger of T into X that qualifies as a Sec.
179 expense deduction, provided it places in service qualified renewal property and qualifies
as a renewal-community business.
2) The exchange of a remainder interest for a fee simple qualifies
QTIP qualifies for the marital deduction if and to the extent that the decedent's executor elects.
While the ultimate marital deduction depends on the proper election and the valuation of the decedent's assets, the example holds that the amount of the bequest is calculable, and therefore qualifies for QTIP treatment.
As a result, no portion of the award qualifies as an employee achievement award, and the FMV of the award is compensation subject to withholding.
79-0 provides that a former employee who performs service for a company as an independent contractor qualifies because of the prior service.
Decrease marital deduction: In certain situations, it may be appropriate for a surviving spouse to disclaim bequeathed property in order to reduce the amount of property that qualifies
for the marital deduction.
Question #6: What if the taxpayer previously reported gain that now qualifies
for installment method reporting under these regulations?