depreciation Archives

ICYMI

A roundup of recent discussions from the NAEA WebBoard. QUESTION #1: I have a client who rents out land for a solar farm. I read that a land rental cannot qualify for the qualified business income (QBI) deduction but am trying to find a ... Tynisa Gaines, EA, and Patrick D. Dimmitt, EA

Winter 2024, ICYMI, §6221(b), s corporation, rental, QBI, partnership, depreciation, Schedule C, Schedule K-1, QJV, LLC, Form 1065, §121, Form 1120-S, Rev. Proc. 2013-30, §357(c), §351, Form 8832, Reg. §1.469-2T(f)(3), §167, qualified business income, §1016, Rev. Proc. 2019-38, Reg. §1.199A-1(b)(14), solar, Treas. Reg. §301.6221(b)-1, §4.02(6), §5.02, Reg. §1.351-3, §121(d)(10), §1.1250-3(a)(3), Reg. §1.1245-2(a)(4) a, §1250(b)(3), §121(d)(6), Rev. Proc. 2002-69, Schedule SE, Schedule F, §761(f)(2)(B), Badaracco v. Commissioner, §4.03, §721, qualified joint venture, §25D(e)(8), Form 13844, direct debit installment agreement, DDIA

Financial Planning

Tax Considerations for Real Estate Investors: A Tax Consultant’s Guide

Real estate investments offer significant tax benefits. However, they are also subject to complex regulations and potential pitfalls. Guiding real estate investors requires tax consultants to understand tax law, investme... Joshua Scott, EA

Winter 2024, Financial Planning, s corporation, c corporation, investment, depreciation, LLC, real estate, modified accelerated cost recovery system, MACRS, §1031, estate planning, limited liability company, sole proprietor, cost segregation, §168, partner, passive activity loss, PAL, exchanges, low-income housing tax credit, LIHTC, affordable housing

Feature Article

Excess Depreciation Claimed, An Ethical Dilemma

I MET JUSTIN FUNDALINSKI of Jim Saulnier & Associates while volunteering time for the betterment of the Financial Planning Association. He asked a question that gave me pause. Tax questions that cause me to pause are the spice of life. His question was about a fascinating situation he encountered regarding depreciation and disposition of residential rental real estate. So down the rabbit hole I went, thoroughly reviewing t... John R. Dundon II, EA

May/June 2017, Feature Article, tax, ethics, ethical, excess, depreciation, claimed, dilemma