Assertion: debt instrument's amount | /r/CapableOf | treat as ordinary income
Facets:
value: for the taxable year
type: TEMPORAL
value: by an issuer
type: OTHER
Source sentences:
text: The amount treated as ordinary income by an issuer is limited to the amount by which the issuer's total interest deductions on the debt instrument exceed the total amount of the issuer's net negative adjustments treated as ordinary income on the debt instrument in prior taxable years.
text: If the deflation adjustment exceeds the interest otherwise deductible by the issuer with respect to the debt instrument for the taxable year and the amount treated as ordinary income for the taxable year, this excess is carried forward to reduce the interest otherwise deductible by the issuer with respect to the debt instrument for subsequent taxable years.