debt instrument

(2) Definitions and special rules For purposes of this subsection— (A) Debt instrument The term “debt instrument” has the meaning given such term by section 1275(a)(1). (B) Daily portions The daily portion of the original issue discount for any day shall be determined under section 1272(a) (without regard to paragraph (7) thereof and without regard to section 1273(a)(3)). (C) Short-term obligations In the case of an obligor of a short-term obligation (as defined in section 1283(a)(1)(A) ) who uses the cash receipts and disbursements method of accounting, the original issue discount (and any other interest payable) on such obligation shall be deductible only when paid.

Source

26 USC § 163(e)(2)


Scoping language

None identified. Default scope is assumed to be the entire title.
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