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Discussion:Gain on loan repayments (Rul 68-537)
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Discussion Forum Index --> Advanced Tax Questions --> Gain on loan repayments (Rul 68-537)
Discussion Forum Index --> Tax Questions --> Gain on loan repayments (Rul 68-537)
23 April 2008 | |
Anyone remember the rule on netting current year loans to the corp with current year loan repayments. I know there is no netting allowed in certain cases, just can't find anything in my research. |
Mtmckeecpa (talk|edits) said: | 24 April 2008 |
Mike,
I was looking at this recently too, try Fleming G. Brooks v Commissioner TC Memo 2005-204 for the taxpayer, see Paul Cornelius v Commissioner 58 TC 417 for the IRS. |
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