With their prospects for deferral or even exclusion of gains from certain investments in them, the newly created qualified opportunity zones offer an intriguing tax planning option for investors and a potential boon for distressed communities.
Gains & Losses
This semiannual update on current developments in the area of individual taxation includes a number of cases on material participation, hobby losses, charitable contributions, the Sec. 199A regulations, and several other important areas.
A Second Circuit decision may affect the analysis of whether the modification of a derivative triggers gain or loss.
In certain situations, a taxpayer may be able to claim capital gain treatment, even if the taxpayer subdivides the real property into lots and actively tries to sell the parcels.
This article discusses calculating and reporting the deduction for losses related to residential property and other nonbusiness property from natural disasters for federal tax purposes.
This semiannual review covers changes made by the TCJA, cases and guidance involving hobby losses, qualifying as a real estate professional, innocent spouse relief, and other key topics affecting individuals.
For investors, cryptocurrency will be regarded as a capital asset, so a key component of correctly determining the tax treatment of a cryptocurrency investment will be establishing its basis.
This article describes a few key aspects of virtual currency phenomena, their tax ramifications, and what tax practitioners need to know about them.
Tax treatment of individual owners of bitcoin and other virtual currencies held for personal use or investment
Tax preparers will need to be proactive in helping their clients identify and report any potentially taxable transactions.
This article is a semiannual review of developments in individual federal taxation, including issues of alimony, trade or business expenses, and recognition of loss.
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.