IRS will allow lenders to defer sec. 461(g)(2) points as OID. (original issue discount): An article from: The Tax Adviser

by Henry W., Jr. Schmidt

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This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1993. The length of the article is 468 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: IRS original issue discount regulations allow for the deferral of points paid in cash. This includes a deduction for points by the borrower under Section 461(g)(2), which lowers the issue price of the loan. This means lenders can recognize home mortgage points over the term of the mortgage. Lenders should consider filing a Form 3115 for changes in method of accounting occurring during or after 1993.

Citation Details
Title: IRS will allow lenders to defer sec. 461(g)(2) points as OID. (original issue discount)
Author: Henry W., Jr. Schmidt
Publication: The Tax Adviser (Magazine/Journal)
Date: June 1, 1993
Publisher: American Institute of CPA's
Volume: 24 Issue: n6 Page: 380(2)

Distributed by Thomson Gale

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