Involuntary conversions, divorce and the two-year rollover rule, and prefabricated homes

Article Abstract:

Real property owners should be aware of the tax issues that can arise in conjunction with prefabricated houses, involuntary conversions, and rollovers of gains realized by divorced persons. Involuntary conversion can involve either replacement property or the subsequent sale of land following destruction of a principal residence. In involuntary conversions, as with the two-year rollover rule, the tax law contains specific guidelines as to what constitutes a gain or loss. The IRS ruling that prefabricated houses are real property is also analyzed.

Public Finance Activities, Capital Gains Taxes, Prefabricated metal buildings, Prefabricated Metal Building and Component Manufacturing, Prefab Metal Buildings, Modular buildings, Capital gains tax, Metal buildings, Modular houses, Prefabricated houses, Rollovers (Finance), Divorced people, Involuntary conversion

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Tax consequences of common improvements - guidelines for the developer

Article Abstract:

Tax allocation methods residential community developers can use to deduct costs associated with providing required common improvements from taxable sale profits are surveyed. 1993 IRS rules allow developers to choose between the general or alternative cost allocation methods for post-1992 real estate sales. Examples of both methods are provided, including which situations make one method more appropriate and advantageous than the other.

Methods, Models, Tax deductions, Housing developers, Cost accounting, Improvements (Law)

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Casualties, condemnations, "like kind," and "similar or related in service or use."

Article Abstract:

Developments in the recognition of taxable gain or loss for the involuntary conversion of property are discussed. I.R.C. 1033 codifies exceptions to the general rule .

United States, Inverse condemnation

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