as required by Treas. Reg. xx.xx. 1.704-1(b)(2)(iv)(g) and 1.704-1(b)(4)(i), if any Shareholder's Capital Account reflects a fair market value for property which differs from such property's adjusted basis, each Shareholder's Capital Account shall be adjusted to take account of the amount of Book Gain and Book Loss, as defined below, allocated to such Shareholder pursuant to Section 9.7 hereof and shall not take into account the Net Income and Net Loss for tax purposes allocated to such Shareholder pursuant to this Article 9.
Appears in 2 contracts
Samples: Trust Agreement (Chartermac), Trust Agreement (Charter Municipal Mortgage Acceptance Co)
as required by Treas. Reg. xx.xx. [Sections] 1.704-1(b)(2)(iv)(g) and 1.704-1(b)(4)(i), if any Shareholder's Capital Account reflects a fair market value for property which differs from such property's adjusted basis, each Shareholder's Capital Account shall be adjusted to take account of the amount of Book Gain and Book Loss, as defined below, allocated to such Shareholder pursuant to Section 9.7 hereof and shall not take into account the Net Income and Net Loss for tax purposes allocated to such Shareholder pursuant to this Article 9.
Appears in 1 contract
Samples: Trust Agreement (Charter Municipal Mortgage Acceptance Co)
as required by Treas. Reg. xx.xx. Section 1.704-1(b)(2)(iv)(g) and 1.704-1(b)(4)(i), if any Shareholder's Capital Account reflects a fair market value for property which differs from such property's adjusted basis, each Shareholder's Capital Account shall be adjusted to take account of the amount of Book Gain and Book Loss, as defined below, allocated to such Shareholder pursuant to Section 9.7 hereof and shall not take into account the Net Income and Net Loss for tax purposes allocated to such Shareholder pursuant to this Article 9.
Appears in 1 contract
Samples: Trust Agreement (Charter Municipal Mortgage Acceptance Co)
as required by Treas. Reg. xx.xx. Sections 1.704-1(b)(2)(iv)(g) and 1.704-1(b)(4)(i), if any Shareholder's Capital Account reflects a fair market value for property which differs from such property's adjusted basis, each Shareholder's Capital Account shall be adjusted to take account of the amount of Book Gain and Book Loss, as defined below, allocated to such Shareholder pursuant to Section 9.7 hereof and shall not take into account the Net Income and Net Loss for tax purposes allocated to such Shareholder pursuant to this Article 9.
Appears in 1 contract
Samples: Trust Agreement (Chartermac)
as required by Treas. Reg. xx.xx. §§ 1.704-1(b)(2)(iv)(g) and 1.704-1(b)(4)(i), if any Shareholder's ’s Capital Account reflects a fair market value for property which differs from such property's ’s adjusted basis, each Shareholder's ’s Capital Account shall be adjusted to take account of the amount of Book Gain and Book Loss, as defined below, allocated to such Shareholder pursuant to Section 9.7 hereof and shall not take into account the Net Income and Net Loss for tax purposes allocated to such Shareholder pursuant to this Article 9.
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