The Revenue Reconciliation Act of 1993 attacks the conversion of ordinary income to capital gain; additional changes are aimed at limiting benefits ... gains.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on November 1, 1993. The length of the article is 4702 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: The 1993 budget act raises the tax rate on investment income but retains the 28% tax rate on long-term capital gains. Because taxation of investment income is now higher than taxation of capital gains, Congress added section 1258 to discourage conversion transactions that would allow investment income to be recognized as capital gain. The effect is an unnecessary burden on taxpayers who wish to recognize capital gains on market discount bonds, preferred stock and investment interest expenses. The effects are discussed in detail.

Citation Details
Title: The Revenue Reconciliation Act of 1993 attacks the conversion of ordinary income to capital gain; additional changes are aimed at limiting benefits from capital gains.
Author: Donald J. Mason
Publication:The Tax Adviser (Magazine/Journal)
Date: November 1, 1993
Publisher: American Institute of CPA's
Volume: 24 Issue: n11 Page: 691(7)

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