Sec. 183 generally bars any deduction of expenses of an activity not engaged in for profit that exceed the gross income derived from the activity. Thus, losses from an activity classified as a hobby ...

This annual update summarizes key changes advisers need to be aware of to ensure their clients’ estate plans remain effective and in line with their intentions. It covers developments in the estate ...

Editor: Jessica L. Jeane, J.D. The rules relating to aggregation and segregation are rules of convenience and presumption. However, if the corporation has actual knowledge of the ownership of certain ...

This annual update on trust, estate, and gift taxation covers recent IRS guidance and administrative issuances, relevant legislative proposals, and selected court decisions for the period ending June ...

Editor: Jessica L. Jeane, J.D. Secs. 332, 351, 368, and 1036. As a consequence, full no-gain-or-loss rulings are available under Secs. 332 (corporate subsidiary liquidation into its corporate owner); ...