Ideas & Insights

Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.

Proposals include a $500,000 cap on gain deferral for like-kind exchanges and eliminating stepped-up basis with a $1 million exemption.

Summary of the American Families Plan and the potential impact that it could have on the real estate industry.

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.