Incurred.

Incurred. Incurred has the meaning given in 1.4611(a)(2) (concerning the taxable year a liability is incurred under the accrual method of accounting), regardless of a taxpayer's overall method of accounting. See 1.4614(d)(2)(ii) for economic performance rules concerning the PCM.

Source

26 CFR § 1.460-1


Scoping language

None
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