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Abstract: 

We discuss developments involving like-kind exchanges, tax issues around state relief payments, the character of gain, capitalization of costs, substance vs. form of a transaction, charitable contributions, bad-debt deductions, the Obamacare’s shared responsibility payment for bankruptcy law purposes, the Tribune Media case, the difference between an advance and a loan for tax purposes, business expense deductions, hobby loss deductions, and non-compete clauses.

Keywords: like-kind exchanges, state relief payments, gain characterization, capitalization, substance vs. form, charitable contributions, bad-debt deductions, Obamacare shared responsibility payment, Tribune Media Co. v. Comm’r, advances vs. loans, business

Affiliations:  1: Journal of Taxation of Investments.