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Phantom Income

Phantom Income Definition

Phantom Income means income that is reportable as taxable income but that does not generate cash flow for the taxpayer.


Additional meaning of Phantom Income:

Phantom income is for example income from limited partnerships and zero-coupon bonds (the latter do not pay interest but are issued at a discount and the holder  receives the payment at maturity, when the bond is redeemed at the higher par value). Phantom income also occurs in the form of a loan that is forgiven, in that case the borrower receives the amount of debt from the creditor.






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