Short Takes: Recent Developments of Interest to Investors

摘要

Recent rulings and other authority regarding the CARES Act, cancellation of debt income, character of gain, realization of losses and other deductions, charitable contributions of conservation easements, passive activity losses, the at-risk rules, and capitalization and basis are addressed. A lot has happened in recent months that should be of interest to investors- even (especially?) those in lockdown mode-so this installment of Short Takes, although in fact made up of short takes, is in its entirety a pretty long take. The subjects taken up include the CARES Act, cancellation of debt income, character of gain, realization of losses and other deductions, charitable contributions of conservation easements, passive activity losses, the at-risk rules, and capitalization and basis.