LAW 427 - Real Estate Tax

Prerequisite(s): LAW 311 - Federal Income Tax

Problem oriented analysis of tax aspects of real estate investment from a life cycle perspective of acquisition, operation and disposition. Areas studied are: start-up costs; acquisition costs and capital vs. ordinary expenditures; treatment of interest and depreciation; anti-tax shelter limitations on tax losses; deferred payment (installment sale and basis recovery reporting) and non-recognition like-kind exchange and involuntary conversion techniques; character issues including treatment of real estate dealers. Many topics are most frequently litigated by IRS. This is the principal area of common law of taxation; tax policy and politics are also examined.