Assertion: debt instrument's premium | /r/HasProperty | deductible
Facets:
value: except to the extent
type: OTHER
value: as interest for the taxable year
type: OTHER
Source sentences:
text: Except to the extent disallowed by any other section of the Internal Revenue Code (e.g., section 249) or this paragraph (c), if a debt instrument is repurchased by the issuer for a price in excess of its adjusted issue price (as defined in § 1.1275-1(b)), the excess (repurchase premium) is deductible as interest for the taxable year in which the repurchase occurs.