Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if [...], as determined under §1.985-1.
Answer
the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency
Question
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if [...], as determined under §1.985-1.
Answer
?
Question
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if [...], as determined under §1.985-1.
Answer
the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency
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Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.
Original toplevel document (pdf)
owner: VPLAN - (no access) - 2017-27320 988 regs.pdf, p5
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