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Walter, your real estate entrepreneur client has a tax question for you. Walter is both a real estate developer and the owner and manager of
Walter, your real estate entrepreneur client has a tax question for you. Walter is both a real estate developer and the owner and manager of residential rental real estate. Walter is retiring and is going to sell both the land he is holding for future development and the rental properties he owns. Straightline depreciation was used to depreciate the rental real estate. The rental properties will be sold at a substantial loss, and the development property will be sold at a substantial gain. What is the nature of these gains and losses? Partial list of research aids: and Zane R Tollis, TCM TCMemo.
Walter, your real estate entrepreneur client has a tax question for you. Walter is both a real estate developer and the owner and manager of residential rental real estate. Walter is retiring and is going to sell both the land he is holding for future development and the rental properties he owns. Straightline depreciation was used to depreciate the rental real estate. The rental properties will be sold at a substantial loss, and the development property will be sold at a substantial gain. What is the nature of these gains and losses?
Partial list of research aids:
and
Zane R Tollis, TCM TCMemo.
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