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us/statute/26/58/a/1/B — Deduction in succeeding taxable year · Axiom

In general

For purposes of computing the amount of the alternative minimum taxable income for any taxable year of a taxpayer other than a corporation—

(A) Disallowance of farm loss

(A)Disallowance of farm loss#

No loss of the taxpayer for such taxable year from any tax shelter farm activity shall be allowed.

(B)Deduction in succeeding taxable year#

Any loss from a tax shelter farm activity disallowed under subparagraph (A) shall be treated as a deduction allocable to such activity in the 1st succeeding taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/58.yaml

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This encoding covers the parent provision us/statute/26/58; no dedicated encoding exists for this exact provision yet.

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Rules

section_58_completed_loss_domain_is_satisfied

Derived

source: 26 USC 58(a), (b), and (c), bounded completed-loss domain

- name: section_58_completed_loss_domain_is_satisfied
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 58(a), (b), and (c), bounded completed-loss domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/a
            excerpt: >-
              In determining the amount of the loss from any tax shelter farm activity, the
              adjustments of sections 56 and 57 shall apply.
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: the adjustments of sections 56 and 57 shall apply
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: >-
              the passive activity loss of a taxpayer shall be computed without regard to qualified
              housing interest
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              the term “insolvent” means the excess of liabilities over the fair market value of
              assets
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/58/c/2
            excerpt: >-
              shall (to the extent otherwise allowable) be allowed for such taxable year in
              computing alternative minimum taxable income and not treated as a loss from a tax
              shelter farm activity
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        (
          section_58_a_completed_loss_domain_is_satisfied
          and section_58_b_completed_loss_domain_is_satisfied
          and section_58_c_1_completed_insolvency_domain_is_satisfied
          and section_58_c_2_completed_disposition_domain_is_satisfied
        )

section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency

Derived

source: 26 USC 58(a) and (c), guarded signed completed adjustment

- name: section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 58(a) and (c), guarded signed completed adjustment
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/58#section_58_completed_loss_domain_is_satisfied
            output: section_58_completed_loss_domain_is_satisfied
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/a
            excerpt: >-
              No loss of the taxpayer for such taxable year from any tax shelter farm activity shall
              be allowed.
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/58/c/2
            excerpt: >-
              the amount of the loss attributable to such activity (determined after carryovers
              under subsection (a)(1)(B))
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if section_58_completed_loss_domain_is_satisfied:
          completed_section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency
        else:
          0

section_58_b_passive_activity_loss_adjustment_after_insolvency

Derived

source: 26 USC 58(b) and (c)(1), guarded signed completed adjustment

- name: section_58_b_passive_activity_loss_adjustment_after_insolvency
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 58(b) and (c)(1), guarded signed completed adjustment
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/58#section_58_completed_loss_domain_is_satisfied
            output: section_58_completed_loss_domain_is_satisfied
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: >-
              In computing the alternative minimum taxable income of the taxpayer for any taxable
              year, section 469 shall apply
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if section_58_completed_loss_domain_is_satisfied:
          completed_section_58_b_passive_activity_loss_adjustment_after_insolvency
        else:
          0

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In general

Official source

For purposes of computing the amount of the alternative minimum taxable income for any taxable year of a taxpayer other than a corporation—

(A) Disallowance of farm loss

(A)Disallowance of farm loss#

No loss of the taxpayer for such taxable year from any tax shelter farm activity shall be allowed.

(B)Deduction in succeeding taxable year#

Any loss from a tax shelter farm activity disallowed under subparagraph (A) shall be treated as a deduction allocable to such activity in the 1st succeeding taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/58.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/58; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

section_58_completed_loss_domain_is_satisfied

Derived

source: 26 USC 58(a), (b), and (c), bounded completed-loss domain

- name: section_58_completed_loss_domain_is_satisfied
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 58(a), (b), and (c), bounded completed-loss domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/a
            excerpt: >-
              In determining the amount of the loss from any tax shelter farm activity, the
              adjustments of sections 56 and 57 shall apply.
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: the adjustments of sections 56 and 57 shall apply
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: >-
              the passive activity loss of a taxpayer shall be computed without regard to qualified
              housing interest
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              the term “insolvent” means the excess of liabilities over the fair market value of
              assets
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/58/c/2
            excerpt: >-
              shall (to the extent otherwise allowable) be allowed for such taxable year in
              computing alternative minimum taxable income and not treated as a loss from a tax
              shelter farm activity
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        (
          section_58_a_completed_loss_domain_is_satisfied
          and section_58_b_completed_loss_domain_is_satisfied
          and section_58_c_1_completed_insolvency_domain_is_satisfied
          and section_58_c_2_completed_disposition_domain_is_satisfied
        )

section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency

Derived

source: 26 USC 58(a) and (c), guarded signed completed adjustment

- name: section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 58(a) and (c), guarded signed completed adjustment
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/58#section_58_completed_loss_domain_is_satisfied
            output: section_58_completed_loss_domain_is_satisfied
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/a
            excerpt: >-
              No loss of the taxpayer for such taxable year from any tax shelter farm activity shall
              be allowed.
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/58/c/2
            excerpt: >-
              the amount of the loss attributable to such activity (determined after carryovers
              under subsection (a)(1)(B))
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if section_58_completed_loss_domain_is_satisfied:
          completed_section_58_a_tax_shelter_farm_loss_adjustment_after_insolvency
        else:
          0

section_58_b_passive_activity_loss_adjustment_after_insolvency

Derived

source: 26 USC 58(b) and (c)(1), guarded signed completed adjustment

- name: section_58_b_passive_activity_loss_adjustment_after_insolvency
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 58(b) and (c)(1), guarded signed completed adjustment
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/58#section_58_completed_loss_domain_is_satisfied
            output: section_58_completed_loss_domain_is_satisfied
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/b
            excerpt: >-
              In computing the alternative minimum taxable income of the taxpayer for any taxable
              year, section 469 shall apply
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/58/c/1
            excerpt: >-
              The amount of losses to which subsection (a) or (b) applies shall be reduced by the
              amount (if any) by which the taxpayer is insolvent
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if section_58_completed_loss_domain_is_satisfied:
          completed_section_58_b_passive_activity_loss_adjustment_after_insolvency
        else:
          0