As part of the 2017 tax reform bill, Congress passed new Section 199A, which authorizes a deduction for “specified agricultural or horticultural cooperatives.” As discussed in a subsequent post, Congress enacted Section 199A(g) to limit the 199A deduction …
IRS Ruling
IRS Rules on Telecom Coop Sale of Stock
A recent IRS private letter ruling addresses whether a cooperative’s gain on sale of stock resulted in patronage or non-patronage income. This particular ruling follows many others that focus on the reason for acquiring the asset.
In Year 1, CORP