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IRS Releases Practice Unit on Stock Basis Ordering Rules and Self-Employment Tax in U.S. Territories

|Approved Changes|United States
United States

The U.S. IRS has released international practice units on:

  • Stock Basis Ordering Rules, which address the stock basis ordering rules to determine the taxability of distributions as well as the deductibility of loss and deduction items for shareholders in S corporations that receive pass-through losses and distributions in the same year; and
  • U.S. Territories - Self-Employment Tax, which discus…

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