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Re: michaeldouglas post# 1219

Saturday, 03/18/2017 10:12:02 AM

Saturday, March 18, 2017 10:12:02 AM

Post# of 1227
As a partner in Atlas, the cancellation of debt, debt which as a partner you shared in, is technically income beneficial to all owners/partners. And then, per the IRS, is taxable as income. The only way to have avoided this debt write-off CODI 'benefit' would have been for you to have sold all your near worthless shares of Atlas stock prior to the BK debt conversion.

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