000			01509nab a2200229 c 4500
999			_c147340 _d147340
003			ES-MaIEF
005			20230424133504.0
007			ta
008			230424t2023 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_970508 _aShook, Alexa E.
245		0	_aAfter 80 years, has the IRS finally succeeded in narrowing Clark's recovery of capital doctrine? _c Alexa E. Shook
500			_aResumen.
520			_aClark v. Commissioner is a seminal Board of Tax Appeals case that supports the fundamental principle that for a transaction to be taxable, the taxpayer must have earned income on the transaction. Despite the case falling in line with what seems to be an obvious proposition, Clark has received scrutiny from a number of commentators, most notably, the Internal Revenue Service. The Service has, over the past 80 years, indicated that it disagrees with Clark and will only support its application in a situation analogous to the specific facts of that case. This article sets out to show that the Service’s hair-splitting analysis of the case is unwarranted in the broader context of requiring income for a transaction to be taxable.
650		4	_aSOCIEDADES _948454
650		4	_aCOMPENSACION DE PERDIDAS _933609
650		4	_aIMPUESTOS _947460
650		4	_aESTADOS UNIDOS _942888
650		4	_aJURISPRUDENCIA _947570
773	0		_9169079 _oOP 235/2023/2 _tJournal of Taxation of Investments _w(IEF)51921 _x 0747-9115 _g v. 40, n. 2, Winter 2023, p. 23-43
942			_cART