Reporting Gains on SCINs After Death
Date
1993-11-12
Authors
Harl, Neil
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Abstract
A major concern from the beginning with self cancelling installment notes (SCINs) has been the treatment of the gain in the obligation cancelled at the death of the seller. The recent decision by the Eighth Circuit Court of Appeals in Estate of Frane has provided additional guidance on whether and when the gain is reported into income.