On July 10, I commented on recent IRS guidance relating to interest expense deductions of partners in securities trading partnerships. A more detailed analysis of that guidance was published on pages 98 & 99 of the July 14, 2008 edition of Tax Notes. The article makes good reading, and you can read it by clicking here. The most interesting part, in my opinion, is the highlighted commentary at the end of the second page - but that's probably because the commentator was me!
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