Community property, the Texas system, in federal income taxation with particular emphasis on the Tax Reform Act of 1969

I. Distribution of Property in the Case of a Married Person with Children 23 II.Distribution of Property in the Case of a Married Person with no Children, but with Mother and Pather Surviving 24 III.Distribution of Property in the Case of an Unmarried Man or Woman or a Widow or Widower with no Children 25 IV.Long-Term Capital Losses and the Computation of the Alternative Tax on Capital Gains . .• 113 V.The Alternative Tax on Capital Gains and the Use of Separate Income Tax Returns 115 VI.Impact of the Minimum Tax on Tax Preferences Por Married Taxpayers 122 VII.Effects of the Proposed Allocation of the $30,000 Exemption for Minimum Tax on Tax Preferences 124 VIII.Excess Deductions Account for Parm Losses ... 140 IX.Addition to the Excess Deductions Account ... 143 X. Recapture of Parm Losses 145 Vll CHAPTER I ,.-.ÆJÍ^,.research will help to promote a better understanding among professional accountants of the important relationships between the system of Pederal income taxation and the system of community property ownership in Texas.The material presented herein, especially that in connection with the Tax Reform Act of 1969» should be of immediate benefit to practitioners.The results of this study should also be useful to students of accounting in developing a basic knowledge of our community property system and of how it relates to Pederal taxes.Method of Research This study deals mostly with primary tax reference materials, which includes statutory law, administrative law, and court decisions within the judicial system.To be more specific, the statutory laws involved in this research are the Internal Revenue Code of 1954 (as amended by the Tax Reform Act of 1969), and the Revised Texas Statutes.