Real Estate Taxation: A Practitioner's Guide |
From inside the book
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Page 564
... Residence Defined A taxpayer may deduct interest on a mortgage on a personal residence which falls within the three categories set out above only if the personal residence is a " qualified residence . " A qualified residence is the ...
... Residence Defined A taxpayer may deduct interest on a mortgage on a personal residence which falls within the three categories set out above only if the personal residence is a " qualified residence . " A qualified residence is the ...
Page 565
... residence under construction as a qualified residence for up to 24 months , but only if the residence becomes a qualified residence once it is ready for occupancy.8 Example : The Taxpayer owns a residential lot on which a vaca- tion ...
... residence under construction as a qualified residence for up to 24 months , but only if the residence becomes a qualified residence once it is ready for occupancy.8 Example : The Taxpayer owns a residential lot on which a vaca- tion ...
Page 568
... residence under construction as a quali- fied residence , and , therefore , the debt may qualify as acquisition indebtedness . From December 31 , 1993 , through March 15 , 1994 , the residence is a qualified residence and the debt ...
... residence under construction as a quali- fied residence , and , therefore , the debt may qualify as acquisition indebtedness . From December 31 , 1993 , through March 15 , 1994 , the residence is a qualified residence and the debt ...
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