Press Room

March 08, 2017

New Section 987 Foreign Currency Regulations Hold Trap

This article discusses the new regulations, issued on December 7, 2016, that provide guidance on how individual and corporate owners of a qualified business unit (QBU) subject to Section 987 of the Internal Revenue Code must determine the QBU’s taxable income or loss, as well as the timing, amount, character, and source of any Section 987 gain or loss. 
 

New Section 987 Foreign Currency Regulations Hold Trap
by Andrew M. Bernard Jr., CPA, and William Long​

Pennsylvania CPA Journal
Mar 01, 2017

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