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Jul 23 Tax Rules for Vacation Home Rentals

Last Updated Jul 23, 2019 in Get Real: Real Estate Life Cycle Insights
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Get the most from your vacation home rental property by knowing the tax rules.

Summer is the time of family vacations, sun, sand and beaches. It's also the time when a vacation home may be used to generate additional cash flow through rental.

Part-time landlords need to...

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Jul 18 Qualified Joint Venture between Spouses

Last Updated Jul 18, 2018 in Get Real: Real Estate Life Cycle Insights
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An unincorporated business jointly owned by a married couple is generally classified as a partnership for federal tax purposes. However, in 2007, there was an addition to the tax code that excludes from partnership status a Qualified Joint Venture ("QJV") conducted by a married couple...

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May 03 Qualified Opportunity Zones under the Tax Cuts and Jobs Act

Last Updated May 03, 2018 in Get Real: Real Estate Life Cycle Insights
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The Qualified Opportunity Zone Program enacted as part of The Tax Cuts and Jobs Act is a new incentive designed to promote investment in low-income communities by allowing taxpayers to defer, reduce, and potentially exclude gain recognition on certain investments made in Qualified Opportunity Zones....

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Feb 13 The Tax Cuts and Jobs Act (TCJA) and Code Section 1031

Last Updated Feb 13, 2018 in Get Real: Real Estate Life Cycle Insights
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The new tax law includes amendments to IRS Code Section 1031 for like-kind exchanges of real estate and other types of property. This post explains what has changed in the new law and property types for which you'll still be able to defer capital gains...

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Feb 02 The Tax Act and the Real Estate Industry

Last Updated Feb 02, 2018 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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In December 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law. Included were changes to the Internal Revenue Code that impact taxpayers engaged in the real estate business, and those who otherwise own real estate. This must-read post takes you through some...

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Jan 16 An Update: Real Estate Professionals and Passive Losses

Last Updated Jan 16, 2018 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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A passive loss from a real estate activity occurs when your rental property's expenses exceeds its income. As a taxpayer, you're only allowed to claim a certain amount of losses on your tax return each year. That is, unless you qualify as a real estate...

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Jan 08 Excluding Gain on the Sale of a Principal Residence

Last Updated Jan 08, 2018 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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One of the most valuable assets a taxpayer will ever sell is their personal residence. Under IRC Section 121 of current tax law, a taxpayer can exclude up to $250,000 ($500,000 if married, filing jointly) of gain realized on the sale or exchange of a...

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Dec 04 Investing in Foreign Real Estate? Here’s What You Need to Know

Last Updated Dec 04, 2017 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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If you invest - or are thinking of investing - in foreign real estate, as a U.S. taxpayer you need to be aware of how your holdings are treated for tax purposes - it's not the same as if you were investing in U.S....

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Nov 20 Special Tax Allowance for Rental Real Estate Activities

Last Updated Nov 20, 2017 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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If a taxpayer fails to qualify as a real estate professional, losses from rental activities may still be deductible. While real estate professionals are afforded beneficial tax treatment enabling them to deduct losses from their real estate activities, real estate nonprofessionals taxpayers may still benefit....

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Oct 10 What You Ought to Know about Affordable Housing

Last Updated Oct 10, 2017 in Get Real: Real Estate Life Cycle Insights, KRS Blog
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The federal government used to build its own public housing. However, the government banned public housing construction in 1968 and began demolishing many of its buildings in the 1990s. While the direct construction went away, the need for new units did not. The Low...

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