Sec. 3-7.3. Foreign expropriation loss

Latest version.

A capital loss resulting from a foreign expropriation may be carried forward to the 10 taxable years succeeding the taxable year of the loss provided such loss is allowed in the 10 taxable years succeeding the year of the loss for Federal income tax purposes. Such loss must be apportioned to business income, investment income, or subsidiary income according to the type of assets which are expropriated.

                    
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