TAX 9869 Lecture Notes - Lecture 40: Foreign Earned Income Exclusion, C Corporation, Internal Revenue Service
Document Summary
I take my tangible depreciable assets of the us corporation: whatever tax basis is of those assets, that is my qbai. Property sold (or leased, licensed, or exchanged) to non u. s. persons for use, consumption, or. Services provided to any person, or with respect to property, located outside the u. s. Special rules apply to transactions that involve domestic intermediaries or related parties. Many related party transactions are likely to qualify if the property or services is for use by a. Foreign use means any use, consumption or disposition that is not within the united states. Sales of property to another person for further manufacture or other modification within the. Property sold to a related person is not treated as sold for a foreign use unless certain conditions are met and the taxpayer establishes to the satisfaction of the internal. Revenue service that such property is for a foreign use.
