BobKamman
Level 15
11-29-2023
06:41 PM
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There was an interesting Tax Court decision in a case involving this issue, which was blogged here:
https://taishofflaw.com/2023/11/28/as-such/
Which is easier to read than the opinion itself, available here:
https://assets.kpmg.com/content/dam/kpmg/us/pdf/2023/11/tnf-tax-court-soroban-nov28-2023.pdf
I predict there will be two or three questions posted here in 2024, about this issue. The answer, of course, is "depends on facts and circumstances."
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