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Investors & landlords
@mtf1 wrote:
....What am I missing?
The economic substance doctrine of Section 7701(o) of the Internal Revenue Code is one element.
The doctrine essentially provides that a transaction must have both a substantial purpose and economic effect aside from reduction of tax liability to be considered valid. Your proposed transaction has no purpose or effect beyond reducing your income tax liability.
‎September 1, 2019
9:49 AM