Is the recharacterization of a sale or a lease a change in method of accounting?: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 1993. The length of the article is 642 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: The book valuation and tax treatment of a lease may differ according to the IRS, and recharacterization from a lease to a sale does not qualify as a change in accounting method. The Tax Court has rendered somewhat contradictory rulings on this issue. In one decision revenues from leases had been treated as rents over a course of years yet in another, lease sales were recharacterized as financing. However, in both cases, the requirement to seek IRS approval for accounting method change was upheld.

Citation Details
Title: Is the recharacterization of a sale or a lease a change in method of accounting?
Author: Sandra H. Green
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1993
Publisher: American Institute of CPA's
Volume: 24 Issue: n1 Page: 19(2)

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