IRS Section 1245 determines how certain types of property are taxed upon sale. Specifically, it deals with recapturing depreciation on personal property and specific kinds of real estate. When ...

I’m in the specialty tax business, and I get calls on a daily basis from CPAs and real estate owners who are concerned that the reallocation of tax basis to “personal property” as part of a cost ...

Gain from a couple’s disposition of agricultural property could not be deferred, even though the property was relinquished in a like-kind exchange that was properly executed, the Tax Court held. The ...

Many farmers are considering selling their land this year due to rapid appreciation in the value or to escape any possible capital gains tax increases. However, many of them also plan on deferring the ...

I do real estate tax consulting, and a common question is when “depreciation recapture” is recognized when real estate is sold. There are two types of recapture rules, one that applies to personal ...

Under the Tax Cut and Jobs Act, the benefits of combining cost segregation and Section 1031 exchanges have become an even more important tax strategy for real estate investors. With the recently ...

Depreciation recapture is the process by which the IRS reclaims tax benefits previously obtained through depreciation when an investor sells a depreciable asset for more than its depreciated value.

On June 11, 2020, the Internal Revenue Service (the “IRS”) issued proposed regulations that define the term “real property” for purposes of Section 1031 of the Internal Revenue Code of 1986, as ...

If you own a building and want to save money on your taxes, check this out: Taxpayers who have placed real property into service after Dec. 31, 1986, can realize $20,000 to $80,000 in tax benefits per ...