Section 1348 provides generally that for taxable years beginning after December 31, 1971, the maximum tax rate applicable to the earned taxable income of an individual, estate, or trust is not to exceed 50 percent. In the case of an estate or trust, earned income includes only amounts which constitute income in respect of a decedent within § 1.1348-3(a)(4). For taxable years beginning after December 31, 1970, and before January 1, 1972, the maximum rate is 60 percent. Section 1348 does not apply if the taxpayer chooses the benefits of income averaging under sections 1301 through 1305. Section 1348 does not apply to a married individual who does not file a joint return with his spouse for the taxable year. For purposes of section 1348, an individual's marital status shall be determined under section 153 and the regulations thereunder.
[T.D. 7446, 41 FR 55337, Dec. 20, 1976]
Notes of Decisions
Cited in
4
cases, 1978–1985 · leading case:
Peppiatt v. Comm'r, 69 T.C. 848 (Tax Ct. 1978).
Peppiatt v. Comm'r, 69 T.C. 848 (Tax Ct. 1978).
· cites it 2× “All section references are to the Internal Revenue Code of 1954, as amended and in effect during the year in issue. ↩ 2.”
Novikoff v. Comm'r, 40 T.C.M. 1039 (Tax Ct. 1980).
· cites it 2× “Thus, the practice of his profession by a doctor, dentist, lawyer, architect, or accountant will not, as such, be treated as a trade or business in which capital is a material income-producing factor even though the practitioner may have a substantial capital investment in…”
Kravetz v. Comm'r, 50 T.C.M. 1122 (Tax Ct. 1985).
· cites it 4× “--For purposes of this subsection-- * * * (C) a taxpayer shall be considered as not married at the close of his taxable year if at any time during the taxable year his spouse is a nonresident alien; * * * ↩ 5.”
Keibler v. Comm'r, 39 T.C.M. 1242 (Tax Ct. 1980).
· cites it 2× “DETERMINATION OF MARITAL STATUS. For purposes of this part-- (1) The determination of whether an individual is married shall be made as of the close of his taxable year; except *511 that if his spouse dies during his taxable year such determination shall be made as of the time…”
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