What Is IRS Section 987 and How Does It Impact the Taxation of Foreign Currency Gains and Losses?
Key Insights Into Taxation of Foreign Money Gains and Losses Under Section 987 for International PurchasesUnderstanding the complexities of Area 987 is critical for U.S. taxpayers engaged in global purchases, as it dictates the treatment of foreign money gains and losses. This section not only calls for the acknowledgment of these gains and losses