Please help me complete the following problem set.
(T or F ) The holding period describes the length of time that an asset is held. If the holding period is less than 12 months, a taxpayer cannot get a preferential capital gain tax rate. (T or F ) A limited partnership can be taxed as a corporation if elected under the check the box rules. (T or F ) A corporation is subject to double tax, so every type of investor must pay two levels of tax (both corporate tax and tax on dividends) when a corporation is used for real estate investment transactions. (T or F ) A REIT is taxable as a corporation that gets the benet of a deduction for dividends paid. (T or F ) A net passive loss that is limited on an individual's income tax return in one year can be carried forward and deducted in future tax years. (T or F ) A real estate professional who incurs losses on rental real estate activities where (s)he materially participates may deduct those losses against wages and other sources of active income. (T or F ) The same real estate asset may produce ordinary income in the hands of one taxpayer but produce capital gains in the hands of a different taxpayer with a different intent. (T or F ) The portfolio interest exception is a rule that allows non-U.S. persons to invest in certain U.S.-issued debt obligations without causing the interest income on such debt obligations to be subject to FDAP or any other US. tax. (T or F ) Assuming that it is not pension-held, a tax exempt investor will never have UBTI on dividend income from a REIT. l ( T or F ) An entity would not lose its REIT status because a single pension fund owns 99% and the remaining 1% is owned by 125 preferred shareholders IFOI' each of the following income types, indicate the tax rate (if any) that would apply to a US individual: "C" = Capital gain tax rate \"0" = Ordinary tax rate \"N" = No tax . Gain on sale of land held for over a year where the taxpayer is considered a dealer in land. . Gain on sale of a single condominium unit to a customers that was held for investment and rented for multiple years before the sale. . Unrealized appreciation in the value of real estate held. . Gain on the sale of stock held for less than one year. . Income earned from a management company. Hi Identify the following as I'ECI" (effectively connected income) or "Not ECI" (not effectively connected income) if earned by a foreign person: Interest income from loans to US. corporate borrowers. Dividends from a US corporation. A gain on the sale of a shopping center located in Russia. Rental income from an actively managed storage center in Florida. Indicate the highest tax rate for each of the following: Interest income to a non-US. (foreign) corporation Capital gain income to a US. corporation Ordinary income to a US. corporation Capital gain income to a US. corporation Capital gain income to a US. individual Ordinary income to a US. corporation Interest income to a non-US. (foreign) individual
