Outline_2A_vocabulary - Long term 0/15% gain 25% gain 28%...

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Outline 2A vocabular y Chapter 16 Personal use assets Investment assets Losses from the sale or exchange of personal use assets Capital assets Section 1221 Property held primarily for sale to customers in the ordinary course of business Depreciable property or real estate used in a business In whole or in part by reference to the basis of such property in the hands of a taxpayer Personal efforts Accrual basis receivable Cash basis account receivable Business fixed assets Creative works Judicial action Held for investment purposes Held for business purposes Statutory expansion Dealer in securities Clearly identifies securities Sale or exchange Exchange Sale Involuntary conversion Worthless security Section 1244 Retirement of Debt obligation Original issue discount Issue price New publicly traded bond issue Holding period 16.5 Net Short term
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Unformatted text preview: Long term 0/15% gain 25% gain 28% gain Unrecaptured Section 1250 gain Collectibles gain Net capital gain Preserve the lowest tax rate ltcg Qualified dividend income Domestic corporation Foreign corporation Capital loss carryover Retains its character Alternative tax on capital gains 16.8 Covenant not to compete 16.10 Execution date Settlement date Chapter 17 Section 1231 Involuntary conversion Purchased intangible assets 1245 recapture Chapter 7 Worthless security Completely worthless Small business stock Section 1244 stock Nolo press Income-producing activities Investing Passive Active, continuous regular management or control Security dealers Professional stock traders Real estate dealer Primarily for sale to customers Actively managing real estate Schedule E...
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This note was uploaded on 11/07/2011 for the course ACCT 508 taught by Professor Frankel during the Spring '10 term at S.F. State.

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Outline_2A_vocabulary - Long term 0/15% gain 25% gain 28%...

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