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Tax-advantaged investment structures, by statute

Seven ways the Internal Revenue Code treats an investment differently, each with the section that says so and the words of the section. No returns are stated: no statute states one.

Seven structures and the section behind each

A “tax-free investment” is a treatment the Code gives to a kind of income, cost or gain. The table names the treatment, the section, and its words. The returns column is UNKNOWN on every row because no statute states a return.

By statute
StructureTreatmentSectionReturns
Oil and gas: intangible drilling and development costsan option to deduct them as expenses26 U.S.C. § 263(c)UNKNOWN: no statute states a return
Oil and gas: percentage depletion15 percent of gross income from the property, within the limits of § 613A26 U.S.C. § 613AUNKNOWN: no statute states a return
Equipment (for example mining hardware): bonus depreciationan allowance equal to 100 percent of the adjusted basis of qualified property in the year placed in service, for property placed in service after January 19, 202526 U.S.C. § 168(k)UNKNOWN: no statute states a return
State and local bondsgross income does not include the interest (with exceptions in § 103(b))26 U.S.C. § 103UNKNOWN: no statute states a return
Roth IRAa qualified distribution is not includible in gross income26 U.S.C. § 408A(d)UNKNOWN: no statute states a return
Like-kind exchange of real propertyno gain or loss recognized on an exchange of real property held for productive use in a trade or business or for investment, solely for like-kind real property26 U.S.C. § 1031(a)UNKNOWN: no statute states a return
Qualified opportunity fundgain invested in a qualified opportunity fund within 180 days of the sale is excluded for that year, under the section’s conditions26 U.S.C. § 1400Z-2UNKNOWN: no statute states a return
What this page is
JSONWhat this page is
"This page is the text of the Code as published by Cornell’s Legal Information Institute, read on 2026-10-09. It states no return, ranks nothing and advises nothing; whether a structure applies to a person is a question for that person’s adviser."
References (7)
  1. 26 U.S. Code § 263 - Capital expenditures — Cornell LII“the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells”
  2. 26 U.S. Code § 613A - Limitations on percentage depletion in case of oil and gas wells — Cornell LII“15 percent shall be deemed to be specified in subsection (b) of section 613”
  3. 26 U.S. Code § 168 - Accelerated cost recovery system — Cornell LII“shall include an allowance equal to 100 percent of the adjusted basis of the qualified property”
  4. 26 U.S. Code § 103 - Interest on State and local bonds — Cornell LII“gross income does not include interest on any State or local bond”
  5. 26 U.S. Code § 408A - Roth IRAs — Cornell LII“Any qualified distribution from a Roth IRA shall not be includible in gross income.”
  6. 26 U.S. Code § 1031 - Exchange of real property held for productive use or investment — Cornell LII“No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment”
  7. 26 U.S. Code § 1400Z–2 - Special rules for capital gains invested in opportunity zones — Cornell LII“the aggregate amount invested by the taxpayer in a qualified opportunity fund during the 180-day period beginning on the date of such sale or exchange”