What is a "tax shelter" for purposes of the "recurring item" exception?: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on March 1, 1992. The length of the article is 688 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Section 461(i)(1) states that tax shelters cannot take advantage of the 'recurring item' exception to the economic performance regulations in Section 461(h). Many S corporations and partnerships meet the definition of a tax shelter, according to the regulations. A limited partnership is considered a tax shelter if over 35% of losses can be allocated to the limited partners. An S corporation is a tax shelter if 35% of losses can be allocated to 'limited entrepreneurs.'

Citation Details
Title: What is a "tax shelter" for purposes of the "recurring item" exception?
Author: Robert E. Kempke
Publication:The Tax Adviser (Magazine/Journal)
Date: March 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n3 Page: 168(1)

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