Abandoning worthless investment property versus selling at a loss.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on May 1, 1998. The length of the article is 1485 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: Individual taxpayers may benefit from abandoning worthless nondepreciable properties under IRC section 165 and receive deductions against ordinary income rather than selling at a capital loss. Intent to abandon the property should exist along with an act demonstrating that intent. Taxpayers should consider their alternative minimum tax liability when planning this abandonment strategy.

Citation Details
Title: Abandoning worthless investment property versus selling at a loss.
Author: Alexander F. Fox
Publication:The Tax Adviser (Magazine/Journal)
Date: May 1, 1998
Publisher: American Institute of CPA's
Volume: 29 Issue: n5 Page: 295(3)

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