Taxpayer acquires a note on the secondary market and holds as an investment. The note is a contingent payment debt instrument subject to Treas. Reg. 1.1275-4(b). Before any contingent payments are realized, Taxpayer sells the note at a gain. What is the character to Taxpayer?

Answer rating: 100% (QA)

According to Treas Reg 112754b the character of the gain on the sale o... View the full answer