Previously, the most an individual could exclude from
income was $80,000.
It also held that the anti-concurrent cause provisions in the insurance contracts were ambiguous and unenforceable in the hurricane-related loss context to the extent that such language, "purport[s] to exclude from
coverage losses that would otherwise be covered, such as wind damage, when that covered loss happens to accompany water damage (an excluded loss)." Finally, Judge Senter made it clear that if plaintiffs prove loss by wind or wind-driven rain, they can recover "regardless of whether a later inflow of water caused additional damage that would be excluded from coverage."
To eliminate people who don't know that they have cancer or other diseases, most scientists exclude from
the results anyone who dies within several years after the study begins.
Thus, an employee may exclude from
gross income employer reimbursements for qualified parking expenses, but only if he or she actually incurred them.
Christian churches do not exclude from
the table those who have physical ailments or psychological troubles.
A third CFC issue in Amdahl concerns whether and how section 959(b) applies to a water's-edge group, and specifically whether its provisions to exclude from
income previously taxed earnings and profits apply in California.
Section 107 allows a "minister of the gospel" to exclude from
income the rental value--including utilities--of a home the church furnishes as part of his or her compensation or the rental allowance it pays under the same circumstances to the extent the minister uses the allowance to rent or provide a home.
117(d) provides that a taxpayer can exclude from
gross income a qualified tuition reduction, defined as "any reduction in tuition provided to an employee of an organization ...
Schleier(1)(*) that section 104(a)(2) of the Internal Revenue Code(2) does not authorize a former United Airlines pilot to exclude from
his gross income the amount received in settlement of a claim for back pay and liquidated damages under the Age Discrimination in Employment Act of 1967.(3) Unfortunately, the decision creates needless complexities and inequitable disparate treatment with respect to when damages received by victims of discrimination can be excluded from gross income.
A recent decision (Coady, 9th Cir., 6/14/00) is heating up the battle over whether a taxpayer may exclude from
gross income the portion of proceeds received from a settlement and retained by his attorney pursuant to a contingent fee arrangement.
The sub- section 20.2(2) definition does not use tax cost nor does it exclude from
the computation some of the significant business assets which are excluded from "equity" in section 20.1.
Since 1939, ministers have been allowed to exclude from
income the value of a home or parsonage provided for them.
121 permits an individual to exclude from
income up to $250,000 ($500,000 for joint returns) of gain realized on the sale or exchange of a residence.
121 (b), as amended, permits individuals meeting ownership and use tests to exclude from
taxable income up to $250,000 of gain ($500,000 if married filing jointly) each time they sell or exchange their principal residence.
127(d), for tax years beginning before 1995, employees could exclude from
gross income amounts paid or expenses incurred by their employer if the assistance was furnished by an educational assistance program set up by the employer.