Author: David F. Windish

Describes the federal tax consequences of real estate ownership, operations and activities. This updated 6th Edition is the most accessible and affordable reference available for all tax, real estate and investment professionals who need to know the tax ramifications and underpinnings of real estate investment.

The book begins by analyzing the tax basis of real estate and then offers a comprehensive discussion of the forms of ownership with comparative benefits and pitfalls of the differing types. Mortgages, at-risk rules, interest and other financial issues are thoroughly covered. Activities involved once ownership is established are then discussed, including

• rental/leasing arrangements,
• tenant's rent deduction,
• landlord's income,
• lease acquisition and cancellation,
• leasehold improvements, and
• investment credit considerations.

The book thoroughly examines the actual operation of real estate,
including:

• coverage of operating expenses and taxes,
• mixed-use residences,
• startup expenses and
• real estate taxes,

plus guidance on:

• additions and improvements,
• depreciation,
• development and
• related issues.

An in-depth focus on passive activity loss rules is included, as well as a separate section analyzing homeowner issues.

Finally, the disposition of real estate is covered, along with a special discussion dealing with securitized real estate investments.

710 pages

If you would like more details about this product, or would like to order a copy online, please click here.

Formerly: Practical Guide to Like-Kind Exchanges Under Code Section 1031

Author: Nancy N. Grekin, J.D.

Analyzes the essential legal means available to swap one asset for another while holding a continuing investment of the same sort in a tax-advantaged way. This brand new resource is intended to aid tax and real estate practitioners and professionals in understanding the various types of exchanges, how to structure exchanges, the mechanics of handling exchanges, and the myriad of details resulting from the related cases, IRS Rulings and Private Letter Rulings — both before and after Starker and the regulations.

Written in clear, easy-to-understand language, this book introduces the law and defines the important terms involved. It describes situations where such exchanges may be advantageous or disadvantageous; explains documentation procedures; examines case law and IRS rulings related to such exchanges; and explores the like-kind test and other important provisions of the law.

Topics covered include:

• Types of Exchanges
• Essential Elements of a Section 1031 Exchange
• The Starker Case and the Evolution of Deferred Exchanges
• Deferred Exchanges Under the Regulations
• Tax Incidents of an Exchange: Exchange Value, Boot, Basis and Recapture of Depreciation
• Mechanics and Documentation of Exchanges
• Multiple Property Exchanges
• Exchanges by Entities: Transfers of Exchange Property to and from Entities
• Reverse Exchanges
• Build-to-Suit Exchanges
• Related Party Exchanges
• Personal Property Exchanges
• Reporting Code Section 1031 Exchanges

The expert author provides insightful cautions, planning notes, examples and comments that clarify the practical application of the law. Helpful sample documents and practical aids include:

• Designated Property Exchange Agreement
• Buyer-Accommodator Exchange Agreement
• Assignment of Relinquished Property Contract
• Direct Exchange Agreement
• Build to Suit Exchange Agreement with Accommodator

240 pages

Related Products

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Provides concise, plain-English coverage of fundamental rules for preparing a decedent's final income tax return and highlights the income tax rules for the decedent's estate and related trusts. Also covered are the special rules regarding the taxation of grantor trusts and bankruptcy estates. Fiduciary duties, including liability for filing a return and paying any taxes due on behalf of the estate or trust, are also thoroughly discussed. Examples illustrating these rules are provided throughout

Among the subjects covered in this quick answer reference are:
- Decedent's last return
- Death of a partnership member
- Decedent's stock holdings
- Income tax return of estate or trust
- Grantor trusts
- Beneficiary's tax liability
- Bankruptcy estates
- Fiduciary duties and liabilities

If you would like more details about this product, or would like to order a copy online, please click here.

At the death of the decedent, a separate taxable entity, the decedent's estate, is created. A fiduciary is appointed to take over administration of the decedent's estate. The representative gathers the assets, files the decedent's final income tax return, satisfies tax liabilities, oversees creation and funding of any testamentary trusts, which become separate taxpaying entities. The estate is liable for the tax on the income received during the period of its administration and the fiduciary oversees preparation of all tax forms required including the final income tax return and any estate and gift tax returns that are due.

This book provides concise, plain-English coverage of these issues and more. It presents the fundamental rules for preparing a decedent's final income tax return and highlights the income tax rules for the decedent's estate and related trusts. Also covered are the special rules regarding the taxation of grantor trusts and bankruptcy estates. Fiduciary duties, including liability for filing a return and paying any taxes due on behalf of the estate or trust, are also thoroughly discussed.

Among the subjects covered in this quick answer reference are:

• Decedent's last return
• Death of a partnership member
• Decedent's stock holdings
• Income tax return of estate or trust
• Grantor trusts
• Beneficiary's tax liability
• Bankruptcy estates
• Fiduciary duties and liabilities