Publication 598 |
2001 Tax Year |
Debt Incurred in Performing Exempt Purpose
A debt incurred in performing an exempt purpose is not acquisition
indebtedness. For example, acquisition indebtedness does not include
the debt an exempt credit union incurs in accepting deposits from its
members or the debt an exempt organization incurs in accepting
payments from its members to provide them with insurance, retirement,
or other benefits.
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