Discussion:COD exclusion-why use if don't need?
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Discussion Forum Index --> Advanced Tax Questions --> COD exclusion-why use if don't need?
Discussion Forum Index --> Tax Questions --> COD exclusion-why use if don't need?
26 June 2014 | |
My client has a loss on foreclosure of a recourse business property. Also qualifies for insolvency & Real property bus indebtness exclusion. Since using any exclusions reduce his basis the result is the same - a smaller loss with no COD income. Anybody see a reason to use either exclusion? |
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