Ideas & Insights

The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.

The new proposed regulations clarify what constitutes ‘real property’ for purposes of section 1031 to help implement changes in TCJA.

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

Provides more time to elect out of 163(j) interest deduction limitation for taxpayers with certain real property or farming businesses.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

Real Estate Roundtable’s Tax Policy Advisory Committee suggests liberalizations and clarifications to proposed regulations.