michaelmars Posted February 12, 2011 Report Share Posted February 12, 2011 Taxpayer has negative basis. Would a charitable contribution of the interest trigger recapture income? ie basis (300,000) FMV= $500,000 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 12, 2011 Report Share Posted February 12, 2011 http://www.irs.gov/businesses/partnerships/article/0,,id=134696,00.html http://www.lisc.org/docs/events/cham2005/downloads/Year_15_handout_5.pdf http://www.pgdc.com/pgdc/story/rev-rul-75-194 Hope these links help. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted February 12, 2011 Author Report Share Posted February 12, 2011 That really helps, thanks KC, i have the full ria checkpoint here and really need a lesson in using it to find stuff. thanks again-michael Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 13, 2011 Report Share Posted February 13, 2011 Sure, glad to help. Quote Link to comment Share on other sites More sharing options...
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