Applying the sec. 108(c) basis adjustment election to foreclosures.: 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, 1997. The length of the article is 4427 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: IRC section 108(c) offers taxpayers the opportunity to avoid cancellation of indebtedness income recognition when the indebtedness is qualified real property business indebtedness (QRPBI). The provision applies to exclude income recognition even if the property is disposed or foreclosed on. With proper planning, the debtor can make use of loss deductions on the disposition of the property and the impact of the basis reduction rules can be minimized.

Citation Details
Title: Applying the sec. 108(c) basis adjustment election to foreclosures.
Author: Donald T. Williamson
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n1 Page: 38(5)

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