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LLC PRINCIPAL AT-RISK AMOUNTS FOR GUARANTEED DEBT.
- Source :
- Real Estate Taxation; 2016 2nd Quarter, Vol. 43 Issue 3, p127-130, 4p
- Publication Year :
- 2016
-
Abstract
- The article reports that Chief Counsel of the U.S. Internal Revenue Service (IRS) issued a Legal Advice Memorandum addressing the tax consequences of personal guarantees made by limited liability company (LLC) members for LLC debt. It mentions that the section 465(a)(1) U.S. U.S. Internal Revenue Code (IRC) allows individual taxpayers to recognize losses for trade or business or production of income activities and two issues concerning the at-risk rules.
- Subjects :
- TAXATION of private companies
MEMORANDUMS
AT-risk limitations (Taxation)
Subjects
Details
- Language :
- English
- ISSN :
- 00935107
- Volume :
- 43
- Issue :
- 3
- Database :
- Supplemental Index
- Journal :
- Real Estate Taxation
- Publication Type :
- Periodical
- Accession number :
- 117301262