Showing 1 post by Scott H. Hogan.
January 9, 2020
IRC §108 – Income from Discharge of Indebtedness
Section 61 of the Internal Revenue Code establishes that all income, from whatever source derived, is included in gross income. If the income arises from a sale or exchange of property that is not a capital asset or property used in a trade or business then it is taxed as ordinary income. Read More ›
Categories: Did you Know?, Income Tax, Tax
Posted by: Scott H. Hogan
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