Second, we limit our analysis to families that report an omnibus income amount.
The first level is the whether the aggregated income amount falls within the same income category the respondent provides on the omnibus income item (the response values for the omnibus income item are provided in Figure 1); the second level is if the aggregated income amount is one or more lower than the omnibus income category; and the third level is if the aggregated income amount is one or more higher than the omnibus category.
This is done to test whether any mismatch of income amount is because of the Census Bureau's imputation process.
These indicators are included to determine whether the mismatch between the omnibus income item and the aggregated income amount could be attributed to respondents consistently missing or overcounting particular sources of aggregated income in the omnibus income item.
Assume the ordinary income amount
calculated on disposition is $40.
The IRS alternatively argued that, if gross income amounts
from the partnership returns are allowed in determining the partner's gross income, only the first-tier partnerships should be used and the partnership's gross income should not include Form 4797 property sales.
751(a) to recognize as ordinary income amounts
received in a sale or exchange of a partnership interest attributable to unrealized assets or substantially appreciated inventory.
The third quarter of 2005 and all quarters subsequent to the three acquisitions will in turn include slight increases to cost of sales and lower pre-tax income amounts
to reflect the additional costs of certain of the acquired inventories that have subsequently been sold.
The tax benefit rule allows taxpayers to exclude from income amounts
recovered from a previously deducted loss to the extent that the previous deduction generated no tax benefit.