IRS PLR: Request to Revoke Election to Include in Gross Income in Year of Transfer Granted (IRC §83) (Corrected)

The IRS has published a private letter ruling on Section 83 granting taxpayer’s request to revoke election to include in gross income in year of transfer the amount by which transferred property’s fair market value at the time of transfer exceeded the amount paid, if any, for the property. [PLR 202403012]

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