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For real property exchanges under Section 1031, any property that is considered "real property" under the law of the state where the property is located will be considered "like-kind" so long as both the old and the new property are held by the owner for investment, or for active use in a trade or business, or for the production of income.
Taxpayers in the United States may have tax consequences when debt is cancelled. This is commonly known as cancellation-of-debt (COD) income.According to the Internal Revenue Code, the discharge of indebtedness must be included in a taxpayer's gross income. [1]
5. Select an Investment Property. Selecting the right investment property requires looking at a number of factors like the neighborhood, home value, continuing costs and demand for rental units ...
A real estate mortgage investment conduit (REMIC) is "an entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors" under U.S. Federal income tax law and is "treated like a partnership for Federal income tax purposes with its income passed through to its interest holders".
A rental or investment property home equity loan could come with tax benefits, depending on how you use it. A home equity loan allows you to tap the value of your property to obtain a one-time ...
While there remain a few tax-deductible investment expenses, as listed in IRS Publication 550, the increased standard deduction means a vast majority of people are no longer able to itemize. The ...
2017 tax reform. House Bill 1 (the Tax Cuts and Jobs Act of 2017) was released on November 2, 2017, by Chairman Kevin Brady of the House Ways and Means Committee. Its treatment of capital gains was comparable to current law, but it roughly doubled the standard deduction, while dropping personal exemptions in favor of a larger child tax credit.
Those who are subject to the tax will pay 3.8 percent on the lesser of the following: their net investment income or the amount by which their modified adjusted gross income (MAGI) extends beyond ...