Development costs and the doctrine of equitable apportionment

Article Abstract:

The author discusses the equitable apportionment doctrine in relation to the taxation of real estate development costs, which requires developers to receive tax benefits from improvement depreciation, rather than tax deductions when residential lots are sold, where the developer retains proprietary rights.

Finance, Real estate development, Tax deductions, Depreciation, Improvements (Law)

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Death, divorce, marital bliss, and the tax consequences of selling a principal residence

Article Abstract:

Taxpayers contemplating the sale of their principal residences should familiarize themselves with revised IRC 121. The new section abolished the two-year rollover rule and established the "5-2" rule, providing that any gain on the sale of a home up to a certain amount is permanently excluded from taxation if the taxpayer owned and used it as his or her principal residence for at least two years during the five-year period preceding the sale.

House selling, Home selling, Capital gains tax

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Foreign ownership and operation of U.S. rental property: a commentary on tax elections and tax consequences

Article Abstract:

The author discusses the tax consequences and elections regarding US real estate purchased by foreign corporations as investments.

Foreign investments, International aspects, Real estate investment, Real estate investments, Recognition of gain or loss (Taxation), Recognized gain or loss (Taxation), Rents (Property)

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