Which regulation deals with Code Section 165?
A)Reg. Sec. 1.165-5
B)Reg. Sec. 165.183-5
C)Reg. Sec. 1.5-165
D)Reg. Sec. 165-5

Question

Quizplus · Accepted Answer

Code Section 165 deals with deductions for losses. Regulation Section 1.165-5 specifically provides rules for determining the amount of loss deductible for each type of loss listed under Code Section 165, including losses incurred in a trade or business, losses from casualty or theft, and losses on deposits in insolvent or bankrupt financial institutions.

Which Regulation Deals with Code Section 165