Planning for the "temporary rental" of a principal residence
Article Abstract:
Homeowners who rent out a personal residence rather than sell it because of an unfavorable housing market should be aware of how they can arrange the rental so as to minimize taxes. IRC Section 1034 allows a deferring of the gain on a sale if the homeowner can show that the rental was only temporary. Section 167 permits a homeowner to write off the depreciation on property used to generate income. Rental losses can be deducted from adjusted gross income and fall within the passive-activity rules of Section 469.
Publication Name: Journal of Real Estate Taxation
Subject: Real estate industry
ISSN: 0093-5107
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Beneficial regulatory activity: Proposed Regulations redefine "activity" under the passive-activity limitations
Article Abstract:
The Treasury Department in May 1992 announced new Proposed Regulations concerning what is and is not an activity under the passive-activity limitations established by the Tax Reform Act of 1986. The new rules, which supersede the wordy and cumbersome Temporary Regulations of May 1989, simplify the process of determining an activity's scope by focusing on the facts and circumstances of each case. However, the Proposed Regulations are unlikely to achieve certain results when applied to real estate issues.
Publication Name: Journal of Real Estate Taxation
Subject: Real estate industry
ISSN: 0093-5107
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Leasing to dot.coms (and other high-tech start-ups): what the parties should know
Article Abstract:
The authors discuss tax issues related to leasing to high technology companies following the companies' volatility in 2000.
Publication Name: Journal of Real Estate Taxation
Subject: Real estate industry
ISSN: 0093-5107
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Reducing taxes on the disposition of a personal residence with acreage. Updated procedures for obtaining FIRPTA withholding certificates
- Abstracts: Industrial land valuation. The effect of the Investment Tax Credit on commercial real estate values. Ellwood: the language of appraisers
- Abstracts: The at-risk rent ratio. Determining the present value of nonannual cash flows
- Abstracts: Strong performance in single-family homebuilding. The difficulties of periodic performance evaluation. Increasing institutional investments in single-family home building