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Loss on sale to a commonly controlled corporation.
- Source :
- Journal of Accountancy. August, 1999, Vol. 188 Issue 2, p85.
- Publication Year :
- 1999
-
Abstract
- As a general rule, taxpayers cannot deduct losses on transactions between related parties. IRC section 267(f) provides a special rule for losses between "commonly controlled" corporations. The loss is deferred [...]
- Subjects :
- Affiliated corporations -- Taxation -- Laws, regulations and rules
Loss deductions -- Laws, regulations and rules
Related party transactions -- Taxation -- Laws, regulations and rules
Tax deductions -- Laws, regulations and rules
Tracinda Corp. v. Commissioner (111 T.C. No. 18 (1999))
Turner Broadcasting Systems v. Commissioner (111 T.C. No. 18 (1999))
Government regulation
Internal Revenue Code (I.R.C. 267(f))
Subjects
Details
- Language :
- English
- ISSN :
- 00218448
- Volume :
- 188
- Issue :
- 2
- Database :
- Gale General OneFile
- Journal :
- Journal of Accountancy
- Publication Type :
- Periodical
- Accession number :
- edsgcl.55397123