NAR Coalition Letter to Senator Ron Wyden of the Senate Finance Committee Regarding MODA
Issue Date: August 16, 2016
US S _____ - Modernization of Derivatives Tax Act of 2016 (MODA)
On August 16, 2016 NAR as part of coalition of industry trades sent a letter to Senator Ron Wyden, Ranking Member of the Senate Finance Committee. The letter recommends changes in MODA to minimize the timing and character mismatch between losses on the sale/disposition of hedge assets and ordinary gains on the mark-to-market (MTM) treatment that MODA would require on hedges of such assets.