Allocation of stock redemption proceeds to principal does not terminate OSST status of trusts
Article Abstract:
According to Internal Revenue Service's (IRS) ruling in Ltr. Rul. 200451021, a trustee's allocation of the redemption proceeds from stocks to principal does not amount to the trust's failure to comply with the current income distribution requirement under Section 1361(d)(3). Hence, the status of trusts as per subchapter S trusts is not terminated.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
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Recent developments in partnership taxation: part 1
Article Abstract:
The details of the sections 1202 and 1045 whose primary purpose is to encourage the investments in the real estate industry by professionally managed partnerships are discussed. The benefits of these sections like providing flexibility and increasing the capacitance of the industry are presented.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
User Contributions:
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