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Rev. Rul. 2016-15 and the Uniform Application of Sec. 108 to QRPBI Logo aicpa

  John Chen, CPA |   Free |   AICPA |   01 Nov 2016 |   Tax Adviser Magazine

The Internal Revenue Service ruled recently on the different application of Sec. 108 debt forgiveness for qualified real property business indebtedness depending on whether the property was held for sale or was used as a rental property, which this article explains.

Topics covered:
  • Tax: Technical: C corporation income taxation : Income, Intermediate
  • Tax: Technical: C corporation income taxation : Reporting & filing requirements, Intermediate