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2008-32

Type
Rev Proc
Subject
7.04 - Prohibited Transactions - Defined & Tax Consequence
Keywords
Dealer Property
Dealer Sale
Safe Harbor
Election of Fair Market Value or Tax Basis
Prohibited Transactions (Dealer Property)
Year
2008
IRS Link
http://www.irs.gov/pub/irs-drop/rp-08-69.pdf
Summary

A REIT that met the dealer sales safe harbor through July 30, 2008 can satisfy the safe harbor through either tax basis or fair market value for the entire 2008 year.

Title
Rev. Proc. 2008-69
Guidance Tags
Rev Proc - Rev. Proc. 2008-69