Tax Facts

 >

Investments
Bonds
Q 1092 What is a Treasury bill?

Q 1093 Is an investor who holds a T-bill required to include interest in income prior to sale or maturity of the bill?
Q 1094 How is an investor taxed on the gain or loss on the sale or maturity of a Treasury bill?
Q 1095 Is an investor who holds a short-term taxable corporate obligation required to include discount in income prior to sale or maturity? Is he required to include interest as it accrues?
Q 1096 How is an investor taxed on gain or loss on the sale or maturity of a short-term taxable corporate obligation?
Q 1097 Are interest expenses deductible if Treasury bills or short-term taxable corporate obligations are purchased or carried with borrowed funds?
Q 1098 What are Treasury bonds and Treasury notes?

Q 1099 What does the holder of a Treasury note or bond include in annual income?
Q 1100 How are the proceeds taxed on sale or redemption of Treasury notes and bonds?
Q 1101 When does the holding period begin if Treasury notes and bonds were bought at auction or on a subscription basis?
Q 1102 What amounts are included in income currently by an investor who holds a taxable corporate bond?
Q 1103 How are proceeds on the sale or retirement of a corporate bond taxed?
Q 1104 How is the donor of a corporate bond taxed on interest that has accrued prior to the date of the gift?
Q 1105 How is a convertible bond taxed on conversion?
Q 1106 How is original issue discount determined in the case of a convertible bond?
Q 1107 What are Treasury Inflation-Protection Securities?

Q 1108 How are inflation-indexed bonds treated for tax purposes?
Q 1109 What is market discount? What is a “market discount bond”?
Q 1110 Is market discount on a taxable bond included annually in gross income as it accrues?
Q 1111 How is gain or loss treated when a market discount bond is sold?
Q 1112 Does a donor include accrued market discount in income when he makes a gift of a market discount bond?
Q 1113 How is market discount treated on sale of a market discount bond received as a gift?
Q 1114 How is market discount treated on the sale of stock received on conversion of a market discount bond?
Q 1115 Are interest expenses deductible if market discount bonds are purchased or carried with borrowed funds?
Q 1116 How is original issue discount on corporate and Treasury obligations issued after July 1, 1982 included in income?
Q 1117 How is original issue discount treated in the case of Treasury notes and bonds issued before July 2, 1982 and after December 31, 1954?
Q 1118 How is original issue discount on corporate bonds issued before July 2, 1982 and after May 27, 1969 treated?
Q 1119 How is original issue discount on corporate bonds issued before May 28, 1969 and after December 31, 1954 taxed?
Q 1120 Must premium paid on taxable bonds be amortized annually? Must basis be reduced by the amount of amortizable premium?
Q 1121 How is the amount of amortizable bond premium determined?
Q 1122 How is amortizable bond premium determined in the case of a convertible bond?
Q 1123 Is interest on obligations issued by state and local governments taxable?

Q 1124 Is tax-exempt interest treated as an item of tax preference for purposes of the alternative minimum tax?

Q 1125 How is gain or loss taxed on sale or redemption of tax-exempt bonds issued by a state or local government?
Q 1126 Is premium paid for a tax-exempt bond deductible? Must basis in a tax-exempt bond be reduced by bond premium?
Q 1127 How is premium on tax-exempt bonds amortized?
Q 1128 Is premium paid on call of a tax-exempt bond before maturity tax-exempt interest?
Q 1129 Is interest on a tax-exempt municipal bond paid by a private insurer because of default by the state or political subdivision tax-exempt?
Q 1130 Is interest on municipal bonds tax-exempt if payment is guaranteed by the United States or corporations established under federal law?
Q 1131 Are interest and expense deductions limited because of ownership of municipal bonds?
Q 1132 If the interest on an obligation issued by a state or local government is not tax-exempt, how is it taxed?
Q 1133 How are buyer and seller taxed on a bond bought or sold “flat”?
Q 1134 What is a zero coupon bond? How is the owner taxed?
Q 1135 What is a stripped bond?
Q 1136 How is an individual taxed who sells separately the corpus or coupons of a taxable bond he originally acquired as a unit?
Q 1137 How is an individual taxed if he buys a stripped taxable bond corpus or coupons?
Q 1138 If tax-exempt bonds are stripped, how are the purchaser and seller of the stripped bond or coupons taxed?
Q 1139 When is the interest on United States Savings Bonds Series E or EE taxed?

Q 1140 Can a child owning Series E or EE bonds elect to include interest?
Q 1141 May the interest on Series EE or Series I bonds used to meet education expenses be excluded from income?

Q 1142 How is interest on a Series E or EE bond taxed after the death of the owner?
Q 1143 How is the owner of Series H or HH bonds taxed?
Q 1144 How is the owner of Series I bonds taxed?

Q 1145 What is a “Ginnie Mae” mortgage backed pass-through certificate?
Q 1146 How is the monthly payment on Ginnie Mae mortgage backed pass-through certificates taxed?
Q 1147 What is a “REMIC?”

Q 1148 How is the owner of a REMIC interest taxed?

Q 1149 What is a “FASIT”?
Q 1150 How is the holder of a FASIT interest taxed?
Q 1151 Must bonds be in registered form? What are “registration required” bonds?
Q 1152 What tax limitations apply to the holder of registration required bonds that are not in registered form?
Q 1153 What is a structured product? How are structured products taxed?
Cattle
Q 1279 What is a cattle feeding program? What is the tax effect of such programs?
Q 1280 What is a cattle breeding program?
Q 1281 Are breeding cattle depreciable?
Q 1282 What costs of a breeding program must be capitalized? When may a deduction be taken for costs that are expensed?
Q 1283 How is gain taxed when breeding cattle are sold?
Q 1284 What adjustments and tax preference items are generated by a cattle breeding program for purposes of the alternative minimum tax?
Equipment Leasing
Q 1264 What is equipment leasing?
Q 1265 What is a “wrap lease”?
Q 1266 In general, what are the tax effects of equipment leasing programs?
Q 1267 Will an equipment leasing arrangement be treated as a lease or a sale?
Q 1268 What is the investment tax credit?
Q 1269 Can the owner of leased equipment take depreciation deductions? How large may the first year deduction be?
Q 1270 Is property leased to governments and other tax-exempt entities eligible for accelerated cost recovery?
Q 1271 Is property used outside the United States eligible for accelerated cost recovery?
Q 1272 Can the owner of leased equipment deduct interest on amounts borrowed to purchase the property?
Q 1273 What expenses can the owner of leased equipment deduct?
Q 1274 Does the “at risk” limitation on losses apply to individual investors in an equipment leasing program? If so, what effect will it have?
Q 1275 Are equipment leasing activities subject to the passive loss rule? If so, what is the effect to an investor in an equipment leasing program?
Q 1276 When is deferred rental income included in income?
Q 1277 How is gain or loss on sale of leased equipment treated?
Q 1278 What items does an equipment leasing program generate which require that adjustments be made to or tax preferences added to alternative minimum taxable income?
Futures
Q 1072 What are securities futures contracts?

Q 1073 How are securities futures contracts taxed?

Q 1074 What are futures? What is a regulated futures contract?

Q 1075 What is a variations margin?

Q 1076 How are regulated futures contracts and other Section 1256 contracts taxed?

Gift Taxation
Q 1523 Are gratuitous transfers by individuals of federal, state, and municipal obligations subject to federal transfer taxation?
Limited Partnerships
Q 1189 How is a publicly traded partnership taxed?
Q 1190 How do limited partners report partnership income, gains, losses, deductions, and credits?
Q 1191 What is an electing large partnership, and how is it treated for tax purposes?
Q 1192 In what year does an individual include partnership income and loss on his tax return?
Q 1193 What is a limited partner’s adjusted basis in his partnership interest?
Q 1194 What liabilities are included in a partner’s adjusted basis in his partnership interest?
Q 1195 How are partnership income, gains, losses, deductions, and credits allocated among partners?
Q 1196 Can a limited partner who enters a partnership late in the year receive a “retroactive” allocation of partnership losses that occurred before he became a partner?
Q 1197 What are the tax consequences of a change (“flip-flop”) in allocation of profits and losses in a limited partnership after a specified time?
Q 1198 Can limited partners deduct the expenses of partnership organization?
Q 1199 Can limited partners deduct the expenses of selling interests in the partnership and other expenses of syndication?
Q 1200 Is there a limit on the deduction of a limited partner’s share of partnership losses?
Q 1201 Is a limited partner taxed on a current cash distribution?
Q 1202 Is a limited partner’s distributive share of partnership income subject to the self-employment tax?
Q 1203 What is a partner’s distributive share of partnership income and loss in the year he sells, exchanges, or liquidates his entire partnership interest?
Q 1204 What amount does a limited partner realize on sale of his partnership interest?
Q 1205 How does a limited partner treat the amount realized on a sale of his partnership interest?
Q 1206 What is the transferee’s distributive share of partnership income in the year he purchases a partnership interest?
Q 1207 What is an individual’s basis in a partnership interest that is purchased from a limited partner?
Q 1208 How is a partner taxed if the partnership liquidates his interest in cash?
Q 1209 Does a limited partner report partnership income and losses in the year he makes a gift of his limited partnership interest?
Q 1210 Will an individual who gives away his interest in a limited partnership realize taxable gain?

Q 1211 Does the grantor of a “grantor” trust that owns a partnership interest realize gain when he renounces retained powers and the trust ceases to be treated as a “grantor” trust?
Q 1212 What is the basis of the donee of a limited partnership interest?
Q 1213 Is partnership income and loss included in a deceased partner’s final return? In the return of his successor in interest?
Q 1214 Does a limited partner realize gain or loss on his partnership interest at death?
Q 1215 What is the basis of the estate or other successor in interest in a limited partnership?
Q 1216 What is the effect of a partnership’s not electing to adjust the basis of partnership property on the sale or exchange of a partnership interest or on the death of a limited partner?
Q 1217 What is the Subchapter K (partnership) anti-abuse rule?
Mutual Funds, ETFs, Hedge Funds, Unit Trusts, REITs
Q 1161 What are mutual funds?
Q 1162 How are dividends received from a mutual fund taxed?

Q 1163 How is the shareholder taxed if the mutual fund pays a dividend in its portfolio stocks or securities rather than in cash?

Q 1164 How are dividends that are automatically reinvested taxed?
Q 1165 How is a mutual fund shareholder taxed on undistributed capital gains?
Q 1166 How is a mutual fund dividend taxed if it is declared for a prior year?
Q 1167 How is a return of capital taxed?
Q 1168 How is a shareholder taxed when his mutual fund passes through a foreign tax credit?
Q 1169 Do mutual fund dividends give rise to tax preference items for purposes of the alternative minimum tax?
Q 1170 Can a shareholder deduct the interest he pays on a loan used to purchase mutual fund shares?

Q 1171 How is a shareholder taxed when he sells, exchanges, or redeems his mutual fund shares?
Q 1172 How is a wash sale of mutual fund shares taxed?
Q 1173 What is a “money market fund”?
Q 1174 How is a money market fund shareholder taxed?
Q 1175 What is a closed-end fund? How are shareholders in a closed-end fund taxed?
Q 1176 What is an exchange-traded fund (ETF)? How are shareholders in an ETF taxed?

Q 1177 What is a hedge fund? How are shareholders in a hedge fund taxed?
Q 1178 What is a unit trust? How are unit holders taxed?
Q 1179 How is a shareholder (or beneficiary) in a real estate investment trust taxed?

Q 1180 Do REIT dividends give rise to tax preference items for purposes of the alternative minimum tax?
Q 1181 How is a REIT shareholder taxed when he sells, exchanges, or redeems his shares?

Oil and Gas
Q 1240 How do individuals invest in oil and natural gas?
Q 1241 Why are oil and gas limited partnerships attractive to individual investors?
Q 1242 What are the basic types of oil and gas drilling programs?
Q 1243 Does an individual recognize any gain or loss at the time he purchases a limited interest in an oil or natural gas limited partnership?
Q 1244 What tax deductions and credits are available through an oil or gas limited partnership?
Q 1245 What limits apply to the deductibility of a limited partner’s share of partnership losses in an oil and gas partnership?
Q 1246 How does the “at risk” rule affect a limited partner’s interest in an oil and gas program?
Q 1247 How does the “passive loss” rule affect investment in an oil and gas program?
Q 1248 What are “intangible drilling and development costs”?
Q 1249 How are intangible drilling and development costs treated for purposes of the federal income tax?
Q 1250 If the limited partnership elects to capitalize intangible drilling costs, how does a limited partner treat his allocated share of such costs?
Q 1251 If the limited partnership elects to expense intangible drilling costs, how does a limited partner treat his allocated shares of such costs?
Q 1252 What is the depletion allowance?
Q 1253 Who is eligible to take deductions for depletion?
Q 1254 In the case of a limited partnership, who calculates the depletion allowance?
Q 1255 How is the depletion allowance calculated?
Q 1256 Who is eligible to use the percentage depletion method?
Q 1257 How is cost depletion calculated?
Q 1258 How is percentage depletion calculated on oil or gas properties?
Q 1259 Is percentage depletion available with respect to advance royalties or lease bonuses?
Q 1260 Does depletion affect a limited partner’s tax basis in his partnership interest?
Q 1261 How is gain from the disposition of an interest in an oil or natural gas property treated if depletion deductions have been taken?
Q 1262 What is the enhanced oil recovery credit?
Q 1263 What items of tax preference (for purposes of the alternative minimum tax) are peculiar to an oil and gas program?
Options
Q 1042 What is an option?

Q 1043 What is a “cash settlement option”?

Q 1044 How are options classified for purposes of the federal income tax?

Q 1045 How does the wash sale rule apply to transactions involving options?

Q 1046 What option contracts are classified as “equity” options?
Q 1047 In the stock market, what is a “call” option? What is a “put” option?

Q 1048 How are puts and calls held by an investor treated for income tax purposes?

Q 1049 How is an investor taxed when he purchases a put or call?

Q 1050 If the owner of an unlisted call sells it prior to exercise or expiration, how is the sale taxed?

Q 1051 If the owner of a listed call terminates his position by making a closing sale in the market, how is the transaction taxed?

Q 1052 How is the owner of a call taxed if he allows it to expire without exercising it?

Q 1053 How is an owner taxed if he exercises a call?

Q 1054 What effect does the purchase of a put have on the underlying stock?

Q 1055 How is the owner of an unlisted put taxed if he sells the put instead of exercising it?

Q 1056 How is the owner of a listed put taxed if he liquidates his position by making a “closing sale” in the market?

Q 1057 How is an owner of a put taxed if he allows the put to expire without exercising it?

Q 1058 How is the owner of a put taxed if he exercises it?
Q 1059 What is a “married” put? How does the taxation of a “married” put differ from that of an ordinary put?
Q 1060 How is the “premium” received by the writer of a “put” or “call” taxed?

Q 1061 Are the commissions a writer of a put or call pays in connection with the sale of that option tax deductible?

Q 1062 If a put or call expires without exercise, how is the writer taxed?

Q 1063 How is the writer of a call taxed when the option is exercised by the owner?

Q 1064 How is the writer of a put taxed when the option is exercised by the owner?

Q 1065 How is the writer of an unlisted put or unlisted call taxed if he repurchases his option from the holder?

Q 1066 How is the writer of a listed call or listed put taxed if he terminates his obligation by making a closing purchase in the market?

Q 1067 Other than stock options, what kinds of options are classified as “equity” options? How are these options taxed?

Q 1068 What is a “nonequity” option?

Q 1069 How are nonequity options taxed?

Q 1070 What is a “spread” transaction?

Q 1071 How are spread transactions taxed?

Precious Metals and Collectibles
Q 1182 How may an individual invest in precious metals?
Q 1183 When a precious metal is sold, how is the transaction taxed?
Q 1184 How is an individual taxed if, instead of selling a precious metal, he exchanges it for other property?
Q 1185 What is a collectible?
Q 1186 When a collectible is sold, how is the transaction taxed?
Q 1187 How is an individual taxed if, instead of selling the collectible, he exchanges it for other property?
Q 1188 Is a “rare” coin or currency money or “property”? How will it be valued when it is used in a taxable transaction?
Quick Clicks
After-Tax Equivalents
AMT Navigator
Constructive Sale Navigator
Real Estate
Q 1219 How does real estate shelter income?
Q 1220 In general, what are the tax benefits of real estate investment? What limitations may restrict enjoyment of those benefits?
Q 1221 Does the “at risk” limitation on losses apply to an investor in real estate? If so, what effect will it have?
Q 1222 Are investments in real estate subject to the passive loss rule? If so, what is the effect to an investor in real estate?
Q 1223 What deductions are available to the owner of vacant land? How is gain or loss on sale treated?
Q 1224 If an individual develops vacant land and sells parcels will he be considered a “dealer”?
Q 1225 Are the expenses of a vacation rental home deductible?
Q 1226 What special tax benefits are available for investment in low-income housing?
Q 1227 What is the low-income housing tax credit?
Q 1228 What is the credit for rehabilitating old buildings and certified historic structures?
Q 1229 Does a lessee qualify for credit for the rehabilitation of old and certified historic buildings?
Q 1230 If a real estate lease provides for deferred or stepped rent, when is rental income includable?
Q 1231 Is the cost of demolishing a structure deductible?
Q 1232 If real property subject to a nonrecourse mortgage is sold or abandoned must the seller include the unpaid balance of the mortgage in his calculation of gain or loss?
Q 1233 How is gain or loss on the sale of rental real estate treated?
Q 1234 How is gain or loss on the sale of rental property to a related person treated?
Q 1235 If accelerated depreciation is used, is part of the gain on the sale of real estate treated as “recaptured” ordinary income?
Q 1236 If the seller finances a sale of real estate, when is interest imputed at a higher rate than the stated rate? When is imputed interest included by the seller? Deducted by the buyer?
Q 1237 What kinds of real estate may be exchanged for other real estate tax-free?
Q 1238 Which transactions qualify as like-kind exchanges of real estate?
Q 1239 What exclusion is available for gain on the sale of a principal residence?
S Corporations
Q 1218 How is an S corporation taxed?
Savings Deposits
Q 1154 What forms of deposits or other services are available in banks and other financial institutions?
Q 1155 How is interest earned on a time or savings deposit taxed? In what year should the interest be reported?

Q 1156 If deposits are made to a joint savings account, who should report the interest income?
Q 1157 Are “gifts” received from a financial institution for opening a savings account or making a time deposit taxed?
Q 1158 If an individual borrows the minimum required deposit on a certificate of deposit, is his interest expense on the loan deductible?
Q 1159 May an individual deduct the fees charged by his bank with respect to an interest bearing account on which checks may be drawn?
Q 1160 Is the penalty paid for early withdrawal of funds in a time deposit tax deductible?
Special Rules
Q 1085 What is a “conversion transaction”?

Q 1086 How is a “conversion transaction” treated for income tax purposes?

Q 1087 What is an “appreciated financial position”?

Q 1088 What constitutes a “constructive sale” of an appreciated financial position”?
Q 1089 How is a constructive sale of an appreciated financial position treated for tax purposes?

Q 1090 What is a “constructive ownership transaction”?

Q 1091 How is a “constructive ownership transaction” treated for tax purposes?

Q 1285 What is the “at risk” rule with respect to losses?
Q 1286 To what types of investment activities does the “at risk” rule apply?
Q 1287 UNder the at risk rule, how is an individual’s “amount at risk” determined?
Q 1288 What “losses” will be disallowed by the at risk rule? May disallowed losses be carried over to other years?
Q 1289 May a limited partner aggregate amounts he has “at risk” in different tax shelters in order to determine his allowable deductions?
Q 1290 May an individual’s “amount at risk” in an activity be less than zero (i.e., a negative amount)? If so, what are the tax effects of a negative amount at risk?
Q 1291 Does the “at risk” rule affect an individual’s tax basis in his tax shelter limited partnership?
Q 1292 What is the “passive loss” rule?
Q 1293 Under the passive loss rule, what is a passive activity?
Q 1294 How is an activity defined for purposes of the passive loss rule?
Q 1295 How do the passive loss rule and other limitations on the use of credits interact with each other?
Q 1296 How is a passive loss treated if the taxpayer is subject to other limitations on loss deductions?
Q 1297 May disallowed passive losses and credits be carried over and taken in a later year? How are passive losses and credits treated on the disposition of an interest in a passive activity?
Q 1298 How are suspended passive losses treated when an activity ceases to be passive or if a closely held C corporation or personal service corporation changes status?
Q 1299 What amount of passive losses (and the deduction-equivalent of credits) from rental real estate activities may an individual deduct against nonpassive income?
Q 1300 What is the “hobby loss” rule? How does it limit deductions?
Q 1301 Is interest expense deductible?

Q 1302 What is personal interest? Is it deductible?

Q 1303 Is interest on debt secured by a taxpayer’s residence deductible?
Q 1304 Is interest on amounts borrowed in order to make or hold taxable investments deductible?

Q 1305 How is interest traced to personal, investment, and passive activity expenditures?

Q 1306 Is interest on indebtedness incurred to purchase or carry tax-exempt obligations deductible?

Q 1307 Is interest paid on amounts borrowed to purchase or carry Treasury bills or short-term taxable corporate obligations deductible?

Q 1308 Is interest paid on amounts borrowed to purchase or carry market discount bonds deductible?
Q 1309 Is student loan interest deductible?

Q 1310 What expenses paid in connection with the production of investment income are deductible?
Q 1311 Are expenses paid for the production of tax-exempt income deductible?

Q 1312 Are expenses relating to tax questions deductible?

Q 1313 How are business expenses reported for income tax purposes?
Q 1314 Are expenses relating to higher education deductible?
Stocks
Q 1001 What is a dividend?

Q 1002 How is a shareholder taxed on cash dividends he receives?

Q 1003 How is a dividend paid in property taxed?

Q 1004 How is a shareholder taxed if the corporation pays a dividend by distributing its own bonds, notes, or other obligations?

Q 1005 How should a shareholder report ordinary dividends on stocks held for him in street name by his brokers?

Q 1006 Can a shareholder reduce his taxable income by assigning or making a gift of future dividends to another individual?

Q 1007 What is “stripped preferred stock?” How is “stripped preferred stock” taxed?

Q 1008 What is a “stock dividend”?

Q 1009 Is a stock dividend taxable?

Q 1010 What is the tax basis of stock acquired in a stock dividend? When does the holding period of the stock begin?

Q 1011 What is the tax basis of warrants or other stock rights received in a nontaxable stock dividend distribution from the issuing corporation?

Q 1012 How is a shareholder taxed when, as part of a stock dividend, he receives cash or scrip in lieu of fractional shares?
Q 1013 How is a shareholder taxed on a stock split?

Q 1014 How is a shareholder taxed if the corporation makes a distribution in excess of its accumulated earnings and profits? How is a “return of capital” taxed?

Q 1015 How is a shareholder taxed if he participates in a dividend reinvestment plan?
Q 1016 If a dividend reinvestment plan allows a participating shareholder to make additional purchases of stock at a discount, how is the purchase taxed?

Q 1017 How is a shareholder taxed on the sale or exchange of his stock?

Q 1018 Under what circumstances may a taxpayer roll over and, thus, defer gain from the sale of publicly traded securities?
Q 1019 What is qualified small business stock?
Q 1020 How is qualified small business stock treated for tax purposes?

Q 1021 What is a “short sale”? What is meant by the expression “short against the box”?

Q 1022 When and how is a short sale taxed?

Q 1023 What is “substantially identical property”?

Q 1024 May an investor deduct the premium he pays to borrow stock in connection with a short sale?

Q 1025 May an investor deduct his expenses incurred in reimbursing the lender of stock in a short sale for dividends paid on the borrowed stock?

Q 1026 For purposes of the short sale rules, what are “arbitrage operations”?

Q 1027 What are the effects on the short sale rules if substantially identical property acquired for an arbitrage operation is disposed of without closing a short sale that was part of arbitrage operations?

Q 1028 How is a short sale taxed if the seller dies shortly after making the short sale and his estate or a trust “closes” the sale?

Q 1029 What is a “wash sale”?
Q 1030 How is the sale or disposition of stock or securities in a wash sale taxed? What effect does a wash sale have on the replacement stock or securities?
Q 1031 When are stocks or securities “substantially identical” for purposes of the wash sale rule?

Q 1032 How is a shareholder taxed when his stock or other security becomes worthless?

Q 1033 What is a stock warrant?

Q 1034 How is the acquisition of a stock warrant taxed? What is its tax basis?

Q 1035 How is the owner of a warrant taxed when the warrant is sold, exercised, or allowed to lapse?

Q 1036 What is an incentive stock option?

Q 1037 How is the grant of an incentive stock option taxed? How is the exercise of the option taxed?

Q 1038 How is a disposition of stock acquired pursuant to the exercise of an incentive stock option taxed if the transfer of the stock to the individual was a qualifying transfer?

Q 1039 What is the tax on disposition of stock acquired pursuant to the exercise of an incentive stock option if the requisite holding periods are not met?

Q 1040 What is the tax effect of modification, renewal, or extension of an incentive stock option?

Q 1041 Is the special tax treatment for incentive stock options available if an incentive stock option and a stock appreciation right are granted together?

Straddles
Q 1077 What is a “tax straddle”?

Q 1078 When will direct ownership of stock be subject to the tax straddle rules? What is a “qualified covered call option”?

Q 1079 How is a tax straddle taxed?
Q 1080 How is a tax straddle taxed if it is made up solely of Section 1256 contracts?

Q 1081 What is a “mixed” straddle? What tax choices are available to the owner of a “mixed” straddle?

Q 1082 How is a mixed straddle taxed if it qualifies and is designated as an “identified tax straddle”?

Q 1083 How is a mixed straddle taxed if there is no election to remove the regulated futures contracts from the mark-to-market tax rules?

Q 1084 What is an “identified straddle”? How is it taxed?
Valuation
Q 1535 Starting Point – How is investment property valued for federal transfer tax purposes?
Q 1536 How does the executor’s election of the alternate valuation method affect the valuation of property for federal estate tax purposes?
Q 1537 How are stocks and bonds listed on an exchange or in an over-the-counter market valued for federal transfer tax purposes?
Q 1538 What effect does it have on valuation of shares of stock for federal transfer tax purposes if they are pledged as security?
Q 1539 How are notes, mortgages, and mortgage participation certificates valued for federal transfer tax purposes?
Q 1540 How are Series E/EE and H/HH United States Savings Bonds valued for federal transfer tax purposes?
Q 1541 How is a non-negotiable savings certificate issued without discount by a Federal Reserve member bank valued for federal estate tax purposes when death occurs between interest periods?
Q 1542 How are mutual fund shares valued for federal transfer tax purposes?
Q 1543 How are United States silver coins valued for federal estate tax purposes?
Q 1544 How are business interests valued for federal transfer tax purposes?
Q 1545 How are shares of stock in closely held corporations valued for federal transfer tax purposes?
Q 1546 How is real estate valued for federal transfer tax purposes?
Q 1547 How are mineral properties valued for federal transfer tax purposes?
Q 1548 How is timber valued for federal transfer tax purposes?