RRA and the 1995 proposed amendments: new rules for the "real estate professional." (Revenue Reconciliation Act of 1993)

Article Abstract:

The Revenue Reconciliation Act of 1993 and subsequent proposed amendments provide relief to real estate professionals from the harsh effect of the passive income rules on real estate rental activity participants. The Tax Reform Act of 1986 categorized all real estate rental activity as passive. In 1993, the law changed to allow more favorable tax treatment when the taxpayer materially participates in the rental activities. The 1995 proposed amendments will allow limited partnerships to aggregate real estate rental activities into one activity.

United States, Real estate agents, Real estate agents and brokers, Passive activity (Taxation)

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Tax consequences of launching a real estate venture

Article Abstract:

The costs associated with launching real estate ventures have different tax consequences and tax treatments depending on their classifications. Start-up and organization costs are capitalized but can be amortized over 60 months if the proper election is filed. Business expenses are deducted while syndication costs are capitalized and ineligible for amortization. Capital expenditures are capitalized but can be depleted, amortized or depreciated if the assets are used for income-producing or business activities.

Analysis, Real estate investment, Real estate investments, Expense deductions

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Limited liability companies in real estate ventures

Article Abstract:

Real estate organizations which lack all the elements of a corporation qualify as limited liability companies (LLCs). LLCs can enjoy the limited liability benefit of corporations and the limited taxation benefit of partnerships. LLC formation requirements, terminology and tax consequences are discussed to provide real estate investment companies with an alternative form of business organization.

Limited liability companies, Real estate limited partnerships

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