BOND ELECTIONS. Election 1 – Bond Premium Amortization (tax free bonds must be amortized) Yes/IRS Default: Amortize. No/Alternative: Do not amortize. Election 2 – Market Discount Accrual Method Ratable/Alternative Constant Yield/IRS Default Election 3 – Include Market Discount as Income No/IRS Default: Don’t include market discount as income. Yes/Alternative: Include market discount in income. IF YOU DO NOT CHOOSE BOND ELECTIONS, THE NOTED IRS DEFAULTS WILL BE SELECTED.
Appears in 9 contracts
Samples: Account Application and Agreement, Account Application and Agreement, Account Application and Agreement
