by admin | Oct 23, 2018 | Realty Exchange Corporation
Will individual landlord taxpayers be able to claim a 199A 20% deduction of net rental income? The question begs clarity. At a meeting with the IRS, advocates said proposed Section 199A regulations should clearly state that all rental real estate is a trade or...
by admin | Mar 15, 2014 | Realty Exchange Corporation
Proposed Change to Primary Residence Exclusion Rules to Five out of Eight Years One of the proposed provisions not getting much attention in the House Ways and Means Committee Chairman Dave Camp’s (R-MI) “Tax Reform Act of 2014” is Section 1401...
by admin | Mar 15, 2014 | Tax Reform
In addition to the severe tax reform suggestions in the House and Senate tax reform draft discussion papers the 2015 Presidential budget proposes that real property 1031 exchange deferrals be limited annually to $1 million per taxpayer. Also there would be rules for...
by admin | Nov 21, 2013 | Vacation Homes
Our concern is that many writers are implying that a 1031 exchange can be done only if the conditions in IRS Revenue Procedure 2008-16 are met. This is not correct !! Since it was never clearly stated when second homes could qualify for a 1031 exchange, the IRS under...
by admin | Nov 9, 2013 | Tax Impact
IRC Section 1.1411 regulations spell out what is to be included in Net Investment Income that may be subject to the 3.8% Medicare Tax for years 2013 and beyond. If you sell a property – SURPRISE – the gain may push you above your status threshold. The gain from...
