Distributions in excess of the first two income tiers are taxed as other income exempt from tax to the extent of current or accumulated tax-exempt income
07 per share monthly distribution of tax-exempt income
payable on December 31, 2013 to shareholders of record on December 16, 2013.
is included in accounting income for purposes of allocating the trustee fee and depreciation deductions in determining taxable income but is excluded from taxable income.
IDIT's also work well when the grantor has a large amount of tax-exempt income
or loss carryovers.
If that's the case, consider switching some of your fixed-income investments to municipal bond funds, which pay tax-exempt income
These include dividends from less-than-20 percent owned corporations; dividends allocable to tax-exempt income
of the payor; and dividends subject to [section] 244 (public utility preferred stock) which are not otherwise qualifying dividends.
New Fund Offers Investors Access to Tax-Exempt Income
& Less Interest Rate Sensitivity
1366-1 (a)(2)(viii) defines tax-exempt income
for purposes of Sec.
5% of all tax-exempt income
was reported by taxpayers with adjusted gross incomes under $250,000.
Subsequently, under section 1367, the shareholders' stock basis is increased for their share of the S corporation's items of income, including tax-exempt income
, and is decreased (but not to less than zero) for their share of any loss items.
1366(a)(2)(viii) recently was amended to specifically state that the COD income is not tax-exempt income
The higher your tax bracket, the more advantageous tax-exempt income