Overlooked RRA provision offers substantial tax deferral opportunity. (Revenue Reconciliation Act of 1993): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 1994. The length of the article is 956 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Section 1044 provides the individual and the C corporation taxpayer with the opportunity to defer gain, within limitations, from the sale of publicly trade stocks if the entire proceeds of the sale are rolled over into a specialized small business investment company within 60 days. The amount of gain deferred is limited to $50,000 per transaction and $500,000 lifetime for individuals and $250,000 and $1 million for C corporations. Proceeds that would be ordinary income cannot be deferred, and the taxpayer must recognize any gain in excess of cash investment in the enterprise.

Citation Details
Title: Overlooked RRA provision offers substantial tax deferral opportunity. (Revenue Reconciliation Act of 1993)
Author: Robert A. Midler
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1994
Publisher: American Institute of CPA's
Volume: 25 Issue: n1 Page: 21(2)

Distributed by Thomson Gale