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This page contains a single entry by Associate Editor published on July 13, 2009 9:46 PM.

IRS E-Mail Correspondence: "Easement Contribution Can't Be Claimed as Charitable Contribution" was the previous entry in this blog.

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IRS E-Mail Correspondence: "Service Says Debt Not Passive Asset of Decedent's Business"

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Associate Editor
on July 13, 2009 TrackBacks (0) Comments (0)

Tax Notes has published IRS e-mailed advice that gave guidance on section 6166 passive asset determination, concluding that money owed by a decedent's son's company to the decedent's company and that was still unpaid for 10 to 15 years is not a passive asset because it is not needed for the decedent's active business's conduct.

See "Service Says Debt Not Passive Asset of Decedent's Business", 2009 TNT 131-60 (July 13, 2009)

Posted by Gary Robillard, Associate Editor, Wealth Strategies Journal.



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