The timing of when the economic performance test is satisfied depends on the type of transaction and
Question:
a. When does economic performance occur for a taxpayer who must provide property or services to another person?
b. When does economic performance occur when another person provides the taxpayer with property or services?
c. Explain the exception to the economic performance test for recurring liabilities.
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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