applicable imputed income amount
Defined in 1 place of the United States Code.
For purposes of subsection (a), the term "applicable imputed income amount" means, with respect to any disposition or other termination referred to in subsection (a), an amount equal to—
Source
- 1994–present26 U.S.C. § 1258Internal Revenue Code · Recharacterization of gain from certain financial transactions · in this section
For purposes of subsection (a), the term “applicable imputed income amount” means, with respect to any disposition or other termination referred to in subsection (a), an amount equal to—
(1) the amount of interest which would have accrued on the taxpayer’s net investment in the conversion transaction for the period ending on the date of such disposition or other termination (or, if earlier, the date on which the requirements of subsection (c) ceased to be satisfied) at a rate equal to 120 percent of the applicable rate, reduced by
(2) the amount treated as ordinary income under subsection (a) with respect to any prior disposition or other termination of a position which was held as a part of such transaction.
Source
- 2013–201826 U.S.C. § 1258Internal Revenue Code · Recharacterization of gain from certain financial transactions · in this section