Real Estate Tax Issues
Real estate tax issues can be confusing for the real estate broker, agent, developer or investor. Some examples of problems:
- Short Sales
- Section 1031 Exchanges; also called deferred exchanges– what can be exchanged?
- Entity selection – LLC, partnership, corporation, trust, or sole proprietorship?
- Basis calculation – how much did the property cost?
- Depreciation – what is the correct useful life for income tax purposes?
- Mortgage issues – what is deductible, what is not?
- What expenses are deductible in my business?