Taxnews.ey.com Real Estate

All Time (47 New Post) Past 24 Hours Past Week Past month

CARES Act And Other Tax Issues For The Real Estate Industry

7 days ago

Many real estate partnerships generate tax losses due to depreciation and interest expense. Those losses may have been limited under IRC Section 461 after it was amended by the TCJA. The CARES Act makes a technical amendment allowing taxpayers to deduct those losses against non-business income.

Taxnews . See more...

Final IRC Section 199A Safe Harbor For Rental Real Estate

6 days ago

In addition, the following real estate arrangements may not be included in a rental real estate enterprise and are thus not eligible for the safe harbor: (1) real estate used by the taxpayer as a residence under IRC Section 280A(d); (2) real estate rented to a trade or business conducted by a taxpayer or an RPE that is commonly controlled under

Taxnews . See more...

Payments To Be Received From A Municipality For Developing

9 days ago

In each of three substantially similar private letter rulings (201816001, 201816002 and 201816003), the IRS ruled that annual incentive payments to be received by a real estate investment trust (REIT) and attributable to the development of a retail shopping center constitute qualifying income for purposes of the 95% and 75% income tests of Section 856(c)(2) and (3).

Taxnews . See more...

Income Received By A REIT From Waiving A Right Of First

7 days ago

In PLR 201820012, the IRS ruled that a payment received by a real estate investment trust (REIT) for waiving its right of first offer to acquire a partnership interest is gain from the disposition of an interest in real property within the meaning of Section 856(c)(2)(D) and (3)(C) to the extent that the underlying partnership's assets constitute real property.

Taxnews . See more...

US Proposed Regulations Provide Guidance On Passive

9 days ago

The problem is that it is very common for real estate enterprises to house the employees in a separate corporation from the real-estate-owning entities. Thus, no matter how actively the real estate was managed "in house," the rents could not qualify as active because the corporation owning the real estate had no employees of its own.

Taxnews . See more...

IRS Addresses Income And Asset Test Treatment Of REIT's

7 days ago

In PLR 201518010, the IRS ruled that the right of a parent real estate investment trust (REIT) (Parent REIT) and each of its subsidiary REITs (Subsidiary REITs) to receive a state franchise tax refund attributable to certain tax credits arising from the redevelopment of real property constitutes a qualifying "receivable" arising in the ordinary course of the REIT's operations within the

Taxnews . See more...

Incentive Payment Received In Connection With Installation

7 days ago

In PLR 201742008, the IRS ruled that an incentive payment (Base Solar Incentive Amount) received by a real estate investment trust (REIT) from a utility company in connection with the installation of a solar PV system on the roof of the REIT's retail property will be considered qualifying income for purposes of the 95% and 75% income tests under Section 856(c) (2) and (c) (3).

Taxnews . See more...

REIT's Senior Independent Living Communities Are Qualified

8 days ago

In PLR 201509019, the IRS ruled that certain senior independent living communities owned by a real estate investment trust (REIT) that offer services to monitor and to help improve the health and well-being of the residents, as well as supportive services offered by a typical congregate care facility, constitute "congregate care facilities" within the meaning of Section 856(e)(6)(D).

Taxnews . See more...

REIT Mixed-use Senior Living Communities, EIK Status Of

7 days ago

The Service recently released PLR 201125013, in which it ruled that certain senior living communities, containing both assisted living units and independent living units, to be acquired by a real estate investment trust (REIT) constitute "qualified health care properties" within the meaning of Section 856(e)(6)(D)(i). Accordingly, the REIT may lease the communities to its taxable REIT

Taxnews . See more...

Income Arising From Refundable Brownfield Tax Credits

6 days ago

In PLR 201845001, the IRS ruled, under its discretionary authority in Section 856(c)(5)(J)(ii), that gross income of a real estate investment trust (REIT) attributable to the receipt or accrual of refundable brownfield tax credits from the development of rental real property is qualifying income for purposes of the 95% and 75% income tests under Section 856(c)(2) and (c)(3).

Taxnews . See more...

Massachusetts To Consider Legislation That Would Establish

Just Now

2019-2284. Massachusetts to consider legislation that would establish a Boston real estate transfer fee. On December 16, 2019, Boston Mayor Martin Walsh signed a home rule petition (Bill) approved by the Boston City Council to petition the Massachusetts Legislature to allow the City of Boston (City) to levy a 2% transfer fee on properties in

Taxnews . See more...

IRS Addresses Income And Asset Test Treatment Of REIT's

7 days ago

In Private Letter Ruling 201428002, the IRS ruled that a real estate investment trust's (REIT's) right to receive a state franchise tax refund attributable to certain tax credits arising from the redevelopment of real property constitutes a qualifying "receivable" arising in the ordinary course of the REIT's operations within the meaning of Reg. Section 1.856-2(d)(1)(iii), and thus a

Taxnews . See more...

IRS Rules That Subsidiary REIT Of A Publicly Traded REIT

7 days ago

In PLR 202051005, the IRS ruled that a real estate investment trust (REIT) that was a subsidiary of a publicly traded REIT, and whose operations were consolidated under generally accepted accounting principles (GAAP) with the publicly traded REIT, qualified as a "publicly offered REIT" under IRC Section 562(c)(2).Accordingly, the subsidiary REIT was exempt from the preferential dividend rule

Taxnews . See more...

IRS Issues Final Regulations Under IRC Section 199A On

8 days ago

Subject to certain limitations and netting rules, the CQBI amount is the sum of (1) 20% of QBI from each "qualified trade or business" (QTB) conducted by a partnership, S corporation, and/or sole proprietorship, (2) 20% of qualified real estate investment trust (REIT) dividends, and (3) 20% of qualified publicly traded partnership (PTP) income.

Taxnews . See more...

German Parliament Advances Several Tax Proposals

6 days ago

The long-discussed reform of the Real Estate Transfer Tax Act was adopted by the Federal Parliament on 21 April 2021. The Federal Council approved the proposal on 7 May 2021. Hence, the new measures will come into effect on 1 July 2021 in accordance with the new law. Detailed discussion

Taxnews . See more...

Services Provided By REIT To Tenants Of Its Apartment

8 days ago

In PLR 201812009, the IRS ruled that specified services provided by a REIT to the tenants of its apartment properties will not give rise to impermissible tenant service income and will not cause any portion of the rents received by the REIT from the tenants to fail to constitute qualifying rents from real property.. Facts. Taxpayer is a REIT that owns three apartment properties (Properties).

Taxnews . See more...

Incentive Payment Received For Developing Rental Property

7 days ago

In PLR 201910002, the IRS ruled that, under its discretionary authority in IRC Section 856(c)(5)(J), an incentive payment received by a real estate investment trust (REIT) from a governmental entity and related to the REIT's development of a multi-use rental real estate project is qualifying income for purposes of the 95% and 75% income tests under IRC Section 856(c)(2) and (c)(3).

Taxnews . See more...

District Of Columbia Enacts Significant Transfer And

6 days ago

The District of Columbia (DC) has enacted legislation increasing its Real Estate Deed Recordation Tax and the Real Property Transfer Tax on the recordation of certain commercial and mixed-use real estate transfers and security interests. 1 The total combined rate on certain real estate transfers will move from 2.9% to a total combined rate of 5%, effective October 1, 2019 (which would be among

Taxnews . See more...

Consolidated Appropriations Act, 2021 Applies TCJA

9 days ago

Update: The President signed the Consolidated Appropriations Act, 2021 on December 27, 2020. The Consolidated Appropriations Act, 2021 (Act), passed by Congress on December 21, 2020, changes the provisions in the Tax Cuts and Jobs Act (TCJA) regarding certain electing real property trades or businesses (RPTOBs) by applying the 30-year alternative depreciation system (ADS) recovery period …

Taxnews . See more...

Grant Payment Received For Developing Rental Property

7 days ago

In two substantially similar private letter rulings (PLRs 201929014 and 201929015), the IRS ruled that, based on its discretionary authority under IRC Section 856(c)(5)(J)(ii), a grant payment received by a real estate investment trust (REIT) from a governmental entity relating to the development of a shopping center will be considered qualifying income for purposes of the 95% and 75% income

Taxnews . See more...

IRS Addresses REIT's Leasing Of Assisted Living

9 days ago

In PLR 201828009, the IRS has ruled that rents received by a real estate investment trust (REIT) from the leasing of assisted living facilities to a partnership formed between a taxable REIT subsidiary (TRS) and an unrelated partner constitute qualifying rents from real property, so long as the assisted living facilities are operated by an eligible independent contractor (EIK).

Taxnews . See more...

Washington Legislature Approves B&O Tax Surcharge On Over

6 days ago

Real estate excise tax (REET) rate changes. The State of Washington and various localities impose the REET on the transfer of Washington real property, including the transfer of controlling interests in entities that own Washington real property. The combined State and local REET rate in most areas is 1.78%, with the State component equal to a

Taxnews . See more...

IRS Rules REIT's Independent Retirement Living Facilities

7 days ago

In PLR 202020007, the IRS ruled that certain independent retirement living facilities (IL Facilities) to be owned by a real estate investment trust (REIT) do not constitute "health care facilities" within the meaning of IRC Section 856(e)(6)(D)(ii).Accordingly, a taxable REIT subsidiary (TRS) that is engaged by the REIT to provide services to the residents of the IL Facilities will not be

Taxnews . See more...

Service Addresses REIT's Leasing Of Hotel To TRS

5 days ago

Real Estate Group • Mark Fisher (202) 327-6491 • Dianne Umberger (202) 327-6625 : The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be

Taxnews . See more...

Proposed Section Section 163(j) Regulations Have

7 days ago

Proposed Section Section 163 (j) regulations have implications for real estate industry. On November 26, 2018, the Treasury and IRS released proposed regulations under Section 163 (j) (the Proposed Regulations), which limits the amount of business interest that taxpayers may deduct. The Proposed Regulations generally apply to tax years ending

Taxnews . See more...

Taking A More Detailed Look At Chile's Recently Passed Tax

7 days ago

Taking a more detailed look at Chile's recently passed tax reform bill. The tax reform would make the "semi-integrated" tax regime mandatory for dividend distributions from large Chilean companies to their non-Chilean shareholders. It also would make significant changes to the value-added tax provisions applicable to non-Chilean holding companies.

Taxnews . See more...

Saudi Arabia Introduces Real Estate Transaction Tax

1 days ago

Taxpayers dealing with real estate need to consider the potential implications of the new RETT and VAT exemption rules, particularly those making supplies of residential and commercial real estate. As the RETT and new VAT exemption rules are effective on all applicable real estate transactions from 4 October 2020, it is important for affected

Taxnews . See more...

Italy Enacts "Relaunch Decree" To Further Manage COVID-19

3 days ago

The Relaunch Decree exempts, under certain conditions, beach clubs, hostels, resorts, Bed & Breakfasts and other touristic structures from the 2020 first advance payment of the IMU, due on 16 June 2020. Generally, such exemption is also recognized for real estate properties classified under "D2" cadastral category such as hotel venues.

Taxnews . See more...

IRS Extends Time For Signing Forms By Electronic Or

7 days ago

Form 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts; Form 1120-L, U.S. Life Insurance Company Income Tax Return; Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return; Form 1128, Application to Adopt, Change or Retain a …

Taxnews . See more...

IRS Releases New Draft Partnership Schedules K-2 And K-3

6 days ago

Partnerships — including private equity funds and alternative asset management funds (i.e., fund of funds, hedge funds, real estate funds, energy funds and venture capital funds) — currently report international tax information across various forms and schedules, and pass much of the information onto their partners in the form of

Taxnews . See more...

New York State Issues Draft Apportionment Rules For

7 days ago

Services (and facilitation of services) related to real property: The primary use location of a digital service related to real property and the benefit received location of the service related to real property is presumed to be where the real property is located. With respect to the digital products/services regulation, services (including

Taxnews . See more...

Connecticut Budget Bill Includes Various Tax Changes

Just Now

Establishes a new, higher 2.25% real estate conveyance tax imposed on the portion of the sales price that exceeds $2.5 million (effective July 1, 2020), 3 and modifies the property tax credit against the income tax for those subject to the new, 2.25% rate (effective January 1, …

Taxnews . See more...

Biden Administration Proposes To Increase Individual

7 days ago

A partnership is an investment partnership in which (1) substantially all of the assets are investment-type assets (e.g., certain securities, real estate, interests in partnerships, commodities, cash or cash equivalents, or derivative contracts with respect to those assets), and (2) more than half of the contributed capital is from partners in

Taxnews . See more...

Grant Proceeds Received For Redeveloping Rental Buildings

7 days ago

In PLR 201841002, the IRS ruled, under its discretionary authority in Section 856(c)(5)(J)(ii), that income that a real estate investment trust (REIT) receives under a state government grant program for redeveloping rental real property is qualifying income for purposes of the 95% and 75% income tests under Section 856(c)(2) and (c)(3).. Facts

Taxnews . See more...

Germany Publishes Draft Annual Tax Act 2019 And Draft Bill

1 days ago

The long-discussed Real Estate Transfer Tax Reform (RETT Reform) has been formally separated from the Annual Tax Act 2019 and transferred into a separate legislative process. The proposed amendments of the RETT Act mainly include tightened rules on the taxation of share deal transactions involving German real estate.

Taxnews . See more...

Argentine Province Of Buenos Aires Issued Regulations On

9 days ago

On March 17, 2021, the Argentine Province of Buenos Aires published, in the Official Gazette, Resolution 9/2021 (the Resolution), which sets forth the procedure substitute taxpayers must follow for "turnover tax" withholding payments for taxable activities performed by nonresidents for tax periods beginning January 1, 2021 and onwards. Background.

Taxnews . See more...

U.S. Tax This Week For January 8

8 days ago

Consolidated Appropriations Act, 2021, contains expansion of certain real estate credits The Consolidated Appropriations Act, 2021 (Act), signed by the President on December 27, 2020, addresses certain tax credits for community development to encourage continued investment, such as extending the New Markets Tax Credit (NMTC) and creating a

Taxnews . See more...

Israel Defers Periods For Certain Tax Procedures In

7 days ago

On 27 March 2020, the Israeli Government approved emergency regulations (the Regulations) that define the period between 22 March to 31 May 2020 (the Defined Period) as a period that will not be taken into account for the periods under the relevant tax sections listed in the Regulations (income tax, withholding tax, value-added tax and others), if the end of such periods falls within the

Taxnews . See more...

City Of Pittsburgh Increases Realty Transfer Tax Rate

1 days ago

8 A "real estate company is defined as an entity primarily engaged in the business of holding, selling or leasing real estate, in which 90% or more of the ownership interests are held by 35 or fewer persons, and which either derives 60% or more of its gross receipts from real property, or 90% of whose total tangible asset holdings are made up

Taxnews . See more...

New York State Issues Updated Draft Business Apportionment

9 days ago

New York State issues updated draft business apportionment factor rules. On July 18, 2019, the New York State Department of Taxation and Finance (Tax Department) posted for comment revised draft corporate franchise tax regulations under Article 9-A of the New York Tax Law ( N.Y. Comp. Codes and Regs. tit. 20, Part 4, Subparts 4-1 through 4-4 ).

Taxnews . See more...

Arkansas Ruling Holds That A Remote Worker's Wages Are Not

5 days ago

Due to real estate costs, concern for fuel emissions and energy conservation, and efforts to create a flexible work environment, businesses are increasingly adopting telecommuter policies. It is important to note that this Arkansas ruling is outside the norm of recent state income tax …

Taxnews . See more...

IRS Announces Temporary Deviation From Handwritten

Just Now

On August 28, 2020, the IRS announced that it will temporarily accept electronic or digital signatures (collectively, "e-signatures") for certain forms that must be filed or maintained in paper form. Taxpayers may choose the specific technology used to create the e-signatures. This temporary deviation from the rules for the forms identified below is effective through December 31, 2020.

Taxnews . See more...

US Information Reporting And Withholding Affected By Tax

2 days ago

A distribution by a REIT or other QIE to a foreign person attributable to gain recognized by the QIE on the sale or exchange of US real property interests (USRPIs) may be considered a "look-through" distribution under Section 897(h) and subject to withholding under Section 1445(e)(6). The rate of withholding follows the new 21% corporate tax rate.

Taxnews . See more...

France Publishes Additional Official Tax Guidelines On

9 days ago

A French tax resident holding an account in an EU Member State who uses his assets held in this account to acquire a real estate property to be rented in a non-CRS jurisdiction or which does not exchange information for tax purposes with France because of: (i) the conversion of a reportable asset into a non-reportable asset; and (ii) in a

Taxnews . See more...

Marina's Floating Docks Are Real Estate Assets For REIT

7 days ago

"Real estate assets" are defined in part as real property, including interests in real property, interests in mortgages on real property, and shares in other qualified REITs (Reg. Section 1.856-3(b)(1)). Reg. Section 1.856-10(b) and (d) provides that "real property" means land and improvements to land in the form of inherently permanent structures.

Taxnews . See more...

IRS Temporarily Reduces Required Cash Distributions To

Just Now

To help publicly-offered real estate investment trusts (REITs) and regulated investment companies (RICs) conserve liquidity, the IRS in Revenue Procedure 2020-19 temporarily reduced the minimum amount of cash in cash-stock distributions that they must distribute to shareholders.. The new requirements apply to distributions declared on or after April 1 until December 31, 2020.

Taxnews . See more...

People also searched:

Realtor com official site 2 family homes   Realtor com official site 29566   Realtor com official site 93004   New listings realtor com   Realtor homes for sale   Realtor com 24153   Realtors listings houses   Realtor.com zillow  

About taxnews.ey.com real estate

2020-1960. IRC Section 163 (j) guidance affects real estate industry. On July 28, 2020, the Treasury Department and IRS released long-awaited final regulations ( TD 9005) (the Final Regulations) and proposed regulations ( REG-107911-18) (the Proposed Regulations) on the IRC Section 163 (j) business interest expense limitation (the Section 163

Website: taxnews.ey.com

Total: 47 New Post

FAQ?

Is real estate a good investment right now?

Real estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time.

How much can you make in real estate?

Real estate is often a referral-based business. Those who are involved in the business longer typically are the most successful. Those with 16 years or more experience earned the highest real estate income: approximately $78,850 on average.

What is the best real estate market?

Dallas tops the list of real-estate markets over the period studied, exhibiting strong price appreciation, while remaining a market in which investors saw strong rents relative to property values.

What is the most expensive real estate in the US?

Manhattan real estate is the most expensive in the US per square foot with some properties topping $10,000: Study. Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows.

Popular Search