Paying rent to yourself: deduction? Income?

Article Abstract:

The US Court of Appeals for the 8th Circuit ruled in Cox v. Commissioner that a taxpayer who offsets passive losses by paying rent for property that the taxpayer and the taxpayer's spouse hold as tenants by the entirety may deduct only half of the rent. The Court thus interpreted the passive-loss provisions of IRC 469 in light of IRC 162(a)(3). Whether this ruling would hold good in a community property jurisdiction remains in doubt.

Loss deductions, Passive activity (Taxation), Tenancy by the entirety

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Like-kind exchanges and the tenancy in common

Article Abstract:

Property exchanged for an interest in a partnership does not qualify for tax free treatment as a like-kind exchange. The question of whether co-tenancy qualified as a partnership for tax purposes was formerly an unsettled one. Revenue Procedure 2002-22 has clarified this issue greatly by establishing guidelines to avoid having co-tenency classified as a partnership interest.

Legal issues & crime, Government regulation (cont), Government regulation, Other Financial Vehicles, Investors, not elsewhere classified, Partnerships, Legal/Government Regulation, Tax Shelter Investment Svcs NEC, Partnership, Tax shelters, Tenancy in common

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Conversion of personal residences to rental property: a journey through the tax labyrinth

Article Abstract:

The author discusses tax issues in converting personal residences to rental property, including basis, depreciation, and the Tax Court memo on Bundren v. C.I.R.

Taxation, Rental housing, Basis (Taxation), Trover and conversion, Trover

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