Tax Aspects of Real Estate Transactions |
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abandonment acquired acquisition adjusted basis allocated amount apartment house bad debt building buys capital asset capital gains tax capital loss cash Chapter collapsible corporation construction cost dealer December 31 deductible deemed demolished depreciation determined distribution dividend earnings and profits equity erty Example X exceeds expenditures expenses extent fair market value foreclosure gain is recognized gain or loss gift tax improvements income tax individual ownership installment sale interest investment involuntary conversion involved land lease leasehold lessee lessor loan method mortgaged property mortgagor offset option ordinary income ordinary loss owner paid partnership payment personal holding company personal liability piece of property property held property received purchase price quitclaim deed real estate tax real property realized reduced reinvested rent rental residence result seller selling price sells the property sold stockholders surtax tax purposes tax rates tax-free exchange tax-free liquidation taxable taxpayer tenant tion trade or business transfer treated