Perform a library search for recent (within the last 5 years) publications in the Journal of Pass-through Entities (S Corporation Corner). Review an article from this journal published within the last 5 years. Briefly summarize the article and provide an example of potential tax implications for companies.
Chapters 21 & 22 in South-Western Federal Taxation 2019
Recognition and Character of Gain or Loss on Sale or Exchange, 26 U.S. Code § 741
Unrealized Receivables and Inventory Items, 26 U.S. Code § 751
Tax Imposed on Certain Built-in Gains, 26 U.S. Code § 1374
Lenok, D. (2017). How cold assets can help keep others hot. Wealth Management.
Luscombe, M. A. (2018). Tax trends: Passthrough entities and tax reform. Taxes, 96(2), 3-4
Certain stock purchases treated as asset acquisitions, 26 U.S. Code § 338 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Deduction and recapture of certain mining explorations expenditures, 26 U.S. Code § 617 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Definitions and special Rules, 26 U.S. Code § 1283 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Disposition gain representing accrued market discount treated as ordinary income, 26 U.S. Code § 1276 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Effect of election on corporation, 26 U.S. Code § 1363 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Election; revocation; termination, 26 U.S. Code § 1362 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Elections and contests, 26 CFR § 1.1362-6 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Extent of recognition of gain or loss on distribution, 26 U.S. Code § 731 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Gain from certain sales or exchanges of stock in certain foreign corporations, 26 U.S. Code § 1248 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Gain from dispositions of certain depreciable property, 26 U.S. Code § 1245 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Gain from dispositions of certain depreciable realty, 26 U.S. Code § 1250 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Gain from disposition of farm land, 26 U.S. Code § 1252 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Gain from disposition of interest in oil, gas, geothermal, or other mineral properties, 26 U.S. Code § 1254 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Partner's distributive share, 26 U.S. Code § 704 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Partner's share of nonrecourse liabilities, 26 CFR § 1.752-3 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Recognition of precontribution gain in case of certain distributions to contributing partner, 26 U.S. Code § 737 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
S corporation defined, 26 U.S. Code § 1361 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Special rule, 26 CFR § 1.752-4 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Taxation of DISC income to shareholders, 26 U.S. Code § 995 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Tax imposed on certain built-in gains, 26 U.S. Code § 1374 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Transfers of franchises, trademarks, and trade names, 26 U.S. Code § 1253 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Treatment of partnership liabilities, 26 CFR §1.752-1 (n.d.). Retrieved from Thomson Reuters Checkpoint database.
Unrealized receivables and inventory items, 26 U.S. Code § 751 (n.d.). Retrieved from Thomson Reuters Checkpoint database.