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Tax Tips: The Type of Entity Matters When Making ยง108(i) Election - Tax Tips - Section 108(i) Election (00173500).DOC (DOC)
Monday, January 04, 2010
Category:  < Taxation

When applying §108, nothing is simple.  The section provides relief to taxpayers by permitting eligible taxpayers to defer recognition of cancellation of indebtedness (“COD”) income over a five year period. However, many questions have been raised about the procedures for, and consequences of, making the election, particularly in the partnership context when there are partners who can benefit from §108(a) exclusions and partners who cannot.

View Tax Tips - Section 108(i) Election (00173500).DOC (DOC)

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