Loan fees: deductible even if proceeds of loan are used for a redemption.: An article from: The Tax Adviser

by Rick Bailine

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This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1992. The length of the article is 559 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: A US Bankruptcy Court case, US v Kroy (Europe) Ltd, has determined that points paid for loans to redeem securities are deductible, and not regulated under IRC 162. This rule denies deductions of expenses accrued by the repurchasing of securities. This section was intended to make greenmail purchase of stocks more difficult and be interpreted broadly when applied to corporate stock repurchasing.

Citation Details
Title: Loan fees: deductible even if proceeds of loan are used for a redemption.
Author: Rick Bailine
Publication: The Tax Adviser (Magazine/Journal)
Date: June 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n6 Page: 354(1)

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