Deduction limitation: deductions claimed by an association cannot also be claimed by its members for their share of income. Where an association of persons or body of individuals claims specified deductions while computing its total income, those same deductions shall not be ... Summary
Deduction limitation: deductions claimed by an association cannot also be claimed by its members for their share of income.
Where an association of persons or body of individuals claims specified deductions while computing its total income, those same deductions shall not be available to an individual member in computing the member's total income with respect to the member's share of the association's income.
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