<p>IRS Issues Practice Unit on Determining Exchange Gain or Loss</p>

IRS Issues Practice Unit on Determining Exchange Gain or Loss

Internal Revenue Service

The IRS has released a practice unit on reviewing a taxpayer’s section 986(c) exchange gain or loss computation and on determining when section 986(c) recognition is appropriate in a pre-Tax Cuts and Jobs Act environment.

<p>The IRS has released a practice unit on reviewing a taxpayer’s section 986(c) exchange gain or loss computation and on determining when section 986(c) recognition is appropriate in a pre-Tax Cuts and Jobs Act environment.</p>