nondeductible


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Antonyms for nondeductible

not allowable as a deduction

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References in periodicals archive ?
401(k) plan) for his or her own benefit, and the amount rolled over equals only the sum of deductible contributions and earnings on all contributions (whether earned on deductible or nondeductible portions) but not any nondeductible contributions, the entire amount roiled over will not be taxed at the time of rollover.
Nondeductible expenses that are not properly chargeable to capital accounts; and
Taxes will not be owed on the original nondeductible contributions because they've already been paid, although the previous earnings on those contributions will be taxable.
Individuals need to add up the total value of all traditional IRAs and also the total amount of nondeductible contributions to those IRAs to determine what percentage of the conversion will be taxable.
Thus, the proposal may embolden the filing of frivolous lawsuits or may compel defendants to pay inflated compensatory damages in order to avoid paying a nondeductible punitive damage award.
If you make a nondeductible IRA contribution, you must file Form 8606 with your yearly federal income tax return, then hold on to that from virtually forever; you'll need it when you reach retirement age and start making withdrawals from the IRA so that you can calculate the tax due on the withdrawals.
If the distribution is not part of an LSD, the full FMV of the securities (in excess of any nondeductible contributions made to the plan) is generally included in the employee's income.
Section 7 contains rules designed to ensure that taxpayers claiming the section 965 DRD do not reduce their taxable income below the amount of their nondeductible qualifying dividends.
219(g)), or may have made nondeductible contributions reported on Form 8606.
To help clients accomplish nonalimony treatment, CPAs can avoid the interpretive difficulties discussed above by suggesting to the divorce lawyers this simple language be used in divorce documents: "The parties designate the payments as excludable/ nondeductible under IRC sections 71 and 215.
The IRS imposes a 10-percent excise tax each year on any nondeductible contributions that remain in the trust.
7) Nondeductible IRA contributions can add up too -- If your income is too high for a deductible IRA or a Roth IRA, consider a nondeductible IRA contribution.
They can take advantage of this change now, by making nondeductible contributions to traditional IRAs, then rolling these amounts into Roth IRAs in 2010.
Under IRC section 162(a)(1), the IRS often seeks to treat a portion of a share holder's salary as a nondeductible constructive dividend if it is excessive or unreasonable.
Commissioner,(2) the Supreme Court held that expenditures incurred by a target corporation in the course of a friendly takeover are nondeductible capital expenditures.