Tax treatment of principal residence repossessions

Article Abstract:

Provisions of the Taxpayer Relief Act of 1997 produce complex consequences and opportunities for repossessors of homes. Many of those consequences and opportunities are explored through the use of practical examples. It is first necessary to understand the 1997 act's rules concerning the exclusion of gains resulting from the sale of a primary residence.

Public Finance Activities, Real Estate, Real Estate and Rental and Leasing, Tax Deductions & Exemptions, Economic aspects, House selling, Home selling, Tax exclusion, Repossession

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Tax advantages of a split purchase partnership

Article Abstract:

Split purchase partnerships can provide tax advantages to property owners. Under such arrangements, present-interest owners gain the advantages of cost-recovery and amortization deductions, and future-interest holders enjoy built-in gains. Several examples are used to illustrate these advantages and to compare partnership with trust ownership.

Lessors of Real Estate, Real Estate Operators and Lessors, Real Property Lessors, Methods, Management, Tax planning, Real estate investment, Real estate investments, Landlords

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Tax aspects of real property sales for contingent future payments

Article Abstract:

Sometimes real property is sold for future payments that are contingent on such variables as productivity, gross rent or gross sales. The Proposed Regulations contain guidelines for the complex tax calculations created. Interest income and expense are reported when the contingent payment becomes fixed and the Buyer receives additional basis.

Real estate agents and managers, Finance, taxation, & monetary policy, Income tax, Deferred income (Business), Deferred income

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