Sec. 109. Expansion of IRA ownership of S corporation bank stock
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/bill/115/hr/5282/ih/section-109·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1361(c)(2)(A)(vi) of the Internal Revenue Code of 1986 is amended by striking , but only to the extent of the stock held by such trust in such bank or company as of the date of the enactment of this clause . Section 4975(d)(16) of the Internal Revenue Code of 1986 is amended by striking subparagraph
(B)and by redesignating subparagraphs (C), (D), (E), and
(F)as subparagraphs (B), (C),
(D)and (E), respectively. The amendments made by this section shall take effect on January 1, 2018.