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Take steps to maximize shareholder basis in S corporations

Article Abstract:

The authors discuss the limitations on deductions of passthrough losses. Methods for keeping track of a shareholder's basis in S corporations are described. Topics include approaches to ensuring a sufficient basis, excess liabilities, and appreciated property.

Author: Blavenec, Lorence L., Bravenec, Edward L.
Publisher: Warren, Gorham & Lamont, Inc.
Publication Name: Practical Tax Strategies
Subject: Law
ISSN: 0040-0165
Year: 2001
S corporations, Basis (Taxation)

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Home-sale regulations illuminate eligibility for excluding gain

Article Abstract:

The IRS has issues regulations concerning the capital gains exclusion for selling principal residences. The regulations' definition of "principal residence" as well as the provisions for the use of the exclusion are reviewed.

Author: Zollars, Edward K.
Publisher: Warren, Gorham & Lamont, Inc.
Publication Name: Practical Tax Strategies
Subject: Law
ISSN: 0040-0165
Year: 2003
Public Finance Activities, Legal issues & crime, Government regulation (cont), Government regulation, Taxes, Legal/Government Regulation, Capital Gains Taxes, Capital gains tax

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Proposed regulations furnish home-sale exclusion guidance

Article Abstract:

The author discusses IRS regulations issued regarding IRC section 121 and tax exclusions for the selling of primary residences.

Author: Schlesinger, Michael
Publisher: Warren, Gorham & Lamont, Inc.
Publication Name: Practical Tax Strategies
Subject: Law
ISSN: 0040-0165
Year: 2001

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Subjects list: United States, Taxation, Laws, regulations and rules, Recognition of gain or loss (Taxation), Recognized gain or loss (Taxation), House selling, Home selling, Tax exclusion
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