1120-US: Section 108(i) income included in taxable income (FAQ)

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Why is Section 108(i) income included in taxable income this year?


Taxpayers that elected to defer Cancellation of Debt (COD) income from 2009 and 2010 under Section 108(i) must include the previously deferred income ratably over a five-tax-year period beginning with the 2014 tax year.

Related topic: 1120-US: Deferring cancellation of debt income under Section 108(i) FAQs

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