CCA 201041040
Pass-Thru of Items to Shareholders
ID: CCA_2010092710381451 Number: 201041040
Release Date: 10/15/2010
Office: ---
UILC: 1366.00-00
From: ---
Sent: Monday, September 27, 2010 10:38:17 AM
To: ---
Cc: ---
Subject: Section 1366 Indebtedness
We believe that the purported loan of securities at issue here did not create indebtedness for purposes of section 1366(d)(1)(B). See Deputy v. Du Pont, 308 U.S. 488 (1940) (obligation to close a short sale was not indebtedness). See also Rev. Rul. 95-45, 1995-26 I.R.B. 4; Rev. Rul. 95-26, 1995-14 I.R.B. 6; Rev.
Rul. 95-8, 1995-4 I.R.B. 29.
Source: view the official PDF
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