News & Analysis as of

Reversal Capital Losses

Lowndes

Should You Abandon An Underperforming Partnership?

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Good news for taxpayers who have, or who are considering, abandoning an interest in an underperforming partnership. Earlier this week the Fifth Circuit overturned the Tax Court’s 2013 decision in Pilgrim’s Pride, clearing...more

Lowndes

Abandonment Losses Back on the Table!

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Several years ago, many taxpayers faced with underwater partnerships would abandon their partnership interests, thereby triggering an ordinary loss. This ordinary loss was often preferred over the capital loss that would be...more

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