2018 UltraTax CS
New (tax) year, new help!
Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
Question
How is the amount of Section 108(i) that is included in taxable income this year determined?
Answer
Generally, the previously deferred income is recognized ratably over a five-tax-year period (i.e., twenty-percent each year) beginning with the 2014 tax year unless an accelerating event occurs.
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