Short Takes: Recent Developments of Interest to Investors
Author: Staff Editors.
Source: Volume 38, Number 02, Winter 2021 , pp.85-99(15)
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Abstract:
Recent rulings and other authority regarding the nonrecognition provisions of the Code, realization of income, losses and other deductions, economic substance and attempted rescission, the character of gain or loss, passive activity losses, and capitalization are addressed.Keywords: cancellation of debt income, IRC Sec. 118, exclusions from income, realization of income, Notice 2020-46, losses and other deductions, Rev. Proc. 2009-20 safe harbor, economic substance, character of gain or loss, passive activity losses, capitalizat
Affiliations:
1: Journal of Taxation of Investments.