by William Horan | Jan 10, 2014 | Realty Exchange Corporation
The IRS has created a new form 8960 to calculate the Net Investment Income Tax. 1031 LKE gain is not included in the calculation of Net Investment Income tax. When the new law was enacted it was unclear whether a like kind exchange deferral of gains were going to be...
by admin | Nov 21, 2013 | Vacation Homes
Our concern is that many writers are implying that a 1031 exchange can be done only if the conditions in IRS Revenue Procedure 2008-16 are met. This is not correct !! Since it was never clearly stated when second homes could qualify for a 1031 exchange, the IRS under...
by admin | Nov 9, 2013 | Tax Impact
IRC Section 1.1411 regulations spell out what is to be included in Net Investment Income that may be subject to the 3.8% Medicare Tax for years 2013 and beyond. If you sell a property – SURPRISE – the gain may push you above your status threshold. The gain from...
by admin | Oct 7, 2013 | 1031 Strategies, Tax Impact
Potential sellers of residential rental properties need to be very aware that the capital gain from such a sale may surprisingly put them in a higher tax bracket and have part of their capital gain taxed at 20%. There has been little written on the application of the...
by admin | Oct 3, 2013 | Realty Exchange Corporation
At their annual conference in Denver early in October 2013 the Federation of Exchange Accommodators (FEA) elected Bill Horan of Vienna, VA, FEA President for the coming year. Bill Horan is owner of Realty Exchange Corporation (REC) in Gainesville, VA. The company...
by William Horan | Sep 13, 2013 | Reporting, Tax Impact
While there was much discussion in the media over tax rates for 2013, the Alternate Minimum Tax (AMT) exemption for 2012 was still to be resolved. Fortunately the last minute ‘fiscal cliff bill’ tackled the AMT exemption, making it permanent and tied to inflation....
