Real Estate Taxation: A Practitioner's Guide |
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Page 519
... Less : Legal and appraisal fees Net condemnation award ... $ 12,000 Less : 10 acres @ $ 200 ... Cost of sheds . Less : Depreciation and casualty loss deduction Adjusted basis of condemned property Gain realized ... 600 $ 11,400 $ 2,000 ...
... Less : Legal and appraisal fees Net condemnation award ... $ 12,000 Less : 10 acres @ $ 200 ... Cost of sheds . Less : Depreciation and casualty loss deduction Adjusted basis of condemned property Gain realized ... 600 $ 11,400 $ 2,000 ...
Page 520
... Less : Net severance damages New basis of remaining property Net condemnation award . Less : 10 acres @ $ 200 .. $ 2,000 $ 10,000 100 500 $ 1,900 $ 126,000 1,900 $ 124,100 Cost of sheds .. Less : Depreciation and casualty loss deduction ...
... Less : Net severance damages New basis of remaining property Net condemnation award . Less : 10 acres @ $ 200 .. $ 2,000 $ 10,000 100 500 $ 1,900 $ 126,000 1,900 $ 124,100 Cost of sheds .. Less : Depreciation and casualty loss deduction ...
Page 636
... Less : Commissions and selling expenses Amount realized . Less : Basis Gain realized Amount realized .. Less : Fixing - up expenses Adjusted sales price Cost of new residence . Difference .. $ 20,000 1,000 $ 19,000 17,500 $ 1,500 ...
... Less : Commissions and selling expenses Amount realized . Less : Basis Gain realized Amount realized .. Less : Fixing - up expenses Adjusted sales price Cost of new residence . Difference .. $ 20,000 1,000 $ 19,000 17,500 $ 1,500 ...
Contents
THE ACQUISITION TRANSACTION | 5 |
FORM OF OWNERSHIP | 39 |
FINANCING REAL ESTATE | 81 |
Copyright | |
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Common terms and phrases
accrual acquired adjusted basis allocated alternative minimum tax amortization amount realized assets building buyer capital gain cash method CCH Dec Code Sec computing construction corporation Court debt depreciation deductions determined discussed election entity Example exchange expenses fair market value financing gain or loss gift gift tax gross income held improvements incurred individual installment obligation investment land lease acquisition costs lessee lessor liability like-kind limited partnership loan loss rules low-income housing ment Mid-Month Convention mortgage nonrecourse ordinary income owner ownership paid partner passive activity loss passive income payments percent placed in service portion purchase price qualified real estate real property tax recapture received recovery period rehabilitation rent residence S.Ct sale-leaseback seller shareholders sold spouse T.C. Memo tax purposes tax-exempt taxable income Temp tenant term tion trade or business transaction transfer treated USTC