26 CFR Part 5 – Temporary Income Tax Regulations Under the Revenue Act of 1978
Current as of: 2024 | Check for updates
|
Other versions
| § 5.1502-45 | Limitation on losses to amount at risk |
| § 5.6411-1 | Tentative refund under claim of right adjustment |
Terms Used In 26 CFR Part 5 - Temporary Income Tax Regulations Under the Revenue Act of 1978
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- stock: includes shares in an association, joint-stock company, or insurance company. See 26 CFR 36.3121(l)(8)-1