Tax avoidance by buy-and-sell-back transactions: statutory disregard of such dealings and restriction on claiming corresponding losses. Provisions require disregard of a buy-and-sell-back transaction in securities for computing a person's total income where the interest or other income ... Summary
Tax avoidance by buy-and-sell-back transactions: statutory disregard of such dealings and restriction on claiming corresponding losses.
Provisions require disregard of a buy-and-sell-back transaction in securities for computing a person's total income where the interest or other income from that security is not included in their total income; losses from such transactions are likewise ignored to the extent that corresponding income from the same security is not included.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.