This article is a semiannual review of developments in individual federal taxation, including issues of alimony, trade or business expenses, and recognition of loss.
Gains & Losses
This item summarizes the current law and discusses the facts and analysis in a recent case.
The IRS and taxpayers have struggled with what constitutes a real property trade or business.
This article is a semiannual review of recent developments in the area of individual taxation.
Passthrough owners that do not materially participate in a trade or business may find their tax credits suspended.
This article explores the income tax issues that arise from owning or living in a home with a person other than a spouse.
This article lays out the steps for determining whether a taxpayer qualifies as a real estate professional.
A number of recent significant developments affect taxation of individuals.
Court rejected doctor's deduction of passive activity losses carried forward from the years when he treated the interest as a nonpassive activity.
Tax-loss harvesting offers the potential for significantly increased after-tax returns.
This item explores the underlying federal income tax issues that accompany disregarded entities acting as borrowers in lending transactions.
Tax Court held that royalties received by an S corporation under a license agreement are taxable as ordinary income to the S corporation’s individual shareholder.
Proper planning may allow this tax to be deferred, reduced, or, in some cases, avoided completely.
Tax Court ruled that couple could deduct passive losses from their rental real estate activities because they met the real estate professional and material participation rules.
The IRS issued regulations giving taxpayers in federally declared disaster areas more time to elect to take a disaster loss on their prior year’s federal income tax return.
Forms W-2G do not necessarily capture all of a taxpayer’s gambling winnings and losses for the year.
Proposed rules clarify and modify previous regulations regarding Sec. 409A nonqualified deferred compensation plans.
This article covers recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.
Two approaches could yield very different tax results.
Foreign currency straddles may be used to manage foreign currency exposure, but they may carry hidden tax issues.