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- Title
Recent Developments: Notes on the Economic Substance Doctrine, the Deductibility of Qualified Residence Interest, and More.
- Abstract
This article discusses three taxation-of-investments matters that, while important, didn't seem to the editor to merit full articles by themselves: recent developments, both administrative and judicial, affecting the application of the economic substance doctrine; a significant case, Sophy v. Commissioner, that answers some vexing questions about the deductibility of qualified residence interest when unmarried joint owners are involved; and a private letter ruling that comes to an important conclusion about basis and related issues when an electric-generating facility is acquired subject to a facility-specific power purchase agreement.
- Subjects
UNITED States; SUBSTANCE over form doctrine; QUALIFIED residence interest; LETTER rulings (Income tax); TAX deductions; INCOME tax deductions for mortgage interest; INTERNAL revenue law
- Publication
Journal of Taxation of Investments, 2012, Vol 30, Issue 1, p81
- ISSN
0747-9115
- Publication type
Article