An Examination of the Section 108 Statutory Insolvency Exclusion and Its Definition of “Assets” as Applied in Carlson v. Commissioner
In Carlson v. Commissioner the Tax Court held that Roderick E. Carlson, a commercial fisherman, and his wife Jeannette Carlson could not exclude discharge of indebtedness income from gross income under the statutory insolvency exclusion of section 108(a)(1)(B). ...
Access Exclusive Benefits
Members unlock unlimited content, networking opportunities, publications and more.
- Taxation Section