Tax Warrior Chronicles

Rehab Your Tax Return: 10-20% Tax Credit for “Old” Building Renovations

Posted on Tue, Apr 04, 2017

By: Sean P. Kelly and Chris Catarino, CPA


If you are renovating an older property or looking for a tax-efficient real estate development project, the Rehabilitation Tax Credit may be a lucrative opportunity. Qualifying rehabilitation projects receive a credit for 20% of rehabilitation costs for certified historical structures or 10% of rehabilitation costs for buildings placed in service before 1936.This dollar-for-dollar tax credit can reduce out-of-pocket renovation costs and significantly improve return on investment. Questions abound, and The Tax Warriors® have the answers.

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Sale of Land Results in Ordinary Income for Developer

Posted on Wed, Apr 09, 2014

In consolidated cases, the Tax Court has concluded that taxpayers incorrectly characterized ordinary partnership income from the sale of real estate as long-term capital gain. It was determined the properties were held by their partnership primarily for sale to customers in the ordinary course of business and not for investment.

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“Real Estate Professional” - Rental Real Estate Losses

Posted on Fri, Sep 13, 2013

Guillermo Merino Jr., et ux. V.  Commissioner, TC Memo 2013-167

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