This definition appears very rarely
and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other meanings of CODI
We have 14 other definitions for CODI
in our Acronym Attic
Samples in periodicals archive:
This gain or loss could mean a cancellation of debt income.
Compounding the confusion is that some taxpayers have received a form 1099-C, others a form 1099-A, while others have received notices from the IRS concerning the failure to include cancellation of debt income in a prior year's tax return.
If the person whose debt is discharged is not an employee of the applicable entity, but the debt discharge is nonetheless compensation for services, the compensation should be reported on a Form 1099-MISC, Miscellaneous Income (because under these circumstances, it is compensation, not cancellation of debt income; cancellation of debt income should not be reported on Form 1099-MISC.
These timing rules will result in the deferred cancellation of debt income being recognized over five taxable years beginning with 2014.
Too much debt yields cancellation of debt income under Treas.
The cancellation of debt income that is expected to be recorded on closing of the sale of the airport parking business could result in the reversal of a significant portion of the valuation allowance.
The election provided in the American Recovery and Reinvestment Act of 2009 (ARRA) to defer until 2014 and spread over five years cancellation of debt income (CODI) has been touted as an attractive relief option for taxpayers struggling with cash flow problems.
6 /PRNewswire-USNewswire/ -- Partnerships' evaluation of cancellation of debt income (CODI) has always been challenging - and the addition of the Section 108(i) in 2009 made it even more complicated and potentially divisive among partners.