Real Estate

Land Sales: Is the Taxpayer Considered a Dealer or Investor?

Recent court decisions are reminders that land may not always be a capital asset that gives rise to a capital gain when sold. Land may also be held for sale to customers in the ordinary course of business, in which case gain on the sale of the land will be ordinary income.

Real Estate Professionals: Avoiding the Passive Activity Loss Rules

Qualifying as real estate professionals allows taxpayers to avoid having their rental real estate activities treated as per se passive. This article discusses the requirements for qualifying as a real estate professional and how the requirements have been interpreted by the IRS and the courts.

Taxpayer Is Not a Real Estate Professional

The Tax Court held that a married taxpayer who filed a separate return did not qualify as a real estate professional through attribution of her husband's activities, and therefore she could not deduct her rental real estate losses.

Short Sales of Investment Real Property

This item addresses a situation that often arises in today’s economic climate: a short sale of real property held for investment, not for rental, secured by a recourse note.

Gifting of a Remainder Interest in a Home

Editor: Kevin F. Reilly, J.D., CPA One of the first decisions taxpayers must make when planning their estates is what to do with the principal home. With the changing and sometimes downtrodden real estate market, this can be a difficult and time-consuming task for heirs, particularly if they do not

Short Sale or Foreclosure of a Principal Residence

It would be a bad dream for any homeowner: selling a home when the debt that secures the property is greater than its fair market value (FMV). With the real estate market slowing, more homeowners are discovering that this can actually happen. When the real estate market was booming, homeowners

Recent Rulings in Real Estate Development

Editor: Frank J. O'Connell, Jr., CPA, Esq. With the slowdown in the real estate market continuing, many taxpayers with investments in undeveloped real estate are attempting to find creative ways to realize the built-in profit on their existing holdings. This planning may involve a real estate developer’s attempting to sell

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.