Capital Gains Tax Return

Jun 29th, 2015
Studypool Tutor
Tufts University School of Medicine
Course: general
Price: $25 USD

Tutor description

Where ownership of the land and the dwelling house thereon belongs to different persons, e.g., where the land is leased to the dwelling house owner, only the dwelling house shall be treated as Principal Residence of the dwelling house owner.

Word Count: 2426
Showing Page: 1/5
November 20, 2000REVENUE REGULATIONS NO. 14-00 SUBJECT:Amending Sections 2(2), 3 and 6 of Revenue Regulations No. 13-99 vis-a-vis Sale, Exchange or Disposition, by a Natural Person, of His "Principal Residence"TO:All Internal Revenue Officers and Others Concerned SECTION 1.Scope. - Pursuant to the provisions of Section 244, in relation to Section 24 (D) (2) of the National Internal Revenue Code of 1997 , these regulations are hereby promulgated in order to streamline and make more efficient the collection of the capital gains tax, if any, presumed to have been realized from the sale, exchange or disposition, by a natural person, of his "Principal Residence." HCSEITSECTION 2.Amendments. -2.1.Section 2 (2) of Revenue Regulations No. 13-99 is hereby amended, to read as follows:"(2)Principal Residence. - (a) The term "Principal Residence" shall refer to the dwelling house, including the land on which it is situated, where the husband and wife or an unmarried individual, whether or not qualified as head of family, and members of his family reside. Actual occupancy of such principal residence shall not be considered interrupted or abandoned by reason of the individual's temporary absence therefrom due to travel or studies or work abroad or such other similar circumstances. Such principal residence must be characterized by permanency in that it must be the dwelling house in which, whenever absent, the said individual intends to return. EICDSA"(b)Where ownersh

Review from student

Studypool Student
" AMAZING as always! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1825 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors