Examlex
Identify two tax planning techniques that can be used to avoid the wash sale disallowance of loss.
Contract Rescinded
The act of legally declaring a contract null and void, as if it never existed, usually due to misinformation, fraud, or mutual mistake.
Sabbath Day
A day set aside for rest and worship according to Jewish, Christian, and some other religions’ traditions, typically observed from sunset on Friday to sunset on Saturday in Judaism and on Sunday in Christianity.
Promissory Estoppel
A legal principle preventing a party from retracting a promise when the other party has reasonably relied on that promise and acted upon it, leading to a detriment.
Reasonable Reliance
Relying on a statement or action in a manner that a reasonable person would consider justified under the circumstances.
Q4: Orange Company had machinery destroyed by a
Q19: Discuss the criteria used to determine whether
Q27: Ellen,age 12,lives in the same household with
Q29: LD Partnership,a cash basis taxpayer,purchases land and
Q39: The basis of property acquired in a
Q66: Personal use property casualty gains and losses
Q113: Stuart owns land with an adjusted basis
Q121: James purchased a new business asset (three-year
Q131: The cost recovery method for new farm
Q135: In a casualty or theft,the basis of