LLCs and LLPs

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property

Payments including for electricity from electric vehicle stations applied toward the real estate investment trust’s qualifying gross-income tests under Sec. 856, the Service ruled.

Tax Court applies limited partner functional test for self-employment income

In Soroban Capital Partners, the Tax Court analyzed the roles, responsibilities, and capital contributions of three limited partners in a limited partnership and determined that they were limited partners in name only.