Nonrecourse Liabilities and Real Costs: A Reply to Professor Johnson
10 Pages Posted: 6 May 2009
After Professor Calvin Johnson had challenged an earlier article of the author (“The Unanswered Question in Tufts: What Was the Purchaser’s Basis?”), the author returned fire. The author of the original article claims - without fear of refutation in this context - that he won the skirmish.
Keywords: Taxation, Nonrecourse Liability, Calvin Johnson, Play Money Basis, When is Nonrecourse Liability a Valid Cost, The Unanswered Question in Tufts, What Was the Purchaser’s Basis?
JEL Classification: K34
Suggested Citation: Suggested Citation