Balthaser, Jim
New accounting option for common improvements to real estate /Jim Balthaser and Thomas J. Callahan
Resumen.
The economic performance requirement, under Section 461, that real estate developers wait until all economic performance test elements have been met before adding the cost of common improvements to the basis of benefitted units at best meant delays before deductions could be taken, and at worst meant such costs were never recovered. Now, new Revenue Procedure 2023-9 provides developers a safe harbor.
IMPUESTOS
PROPIEDAD INMOBILIARIA
CONTABILIDAD FISCAL
ESTADOS UNIDOS
Callahan, Thomas J.
Journal of Taxation of Investments 0747-9115 v. 40, n. 3, Spring 2023, p. 29-31
New accounting option for common improvements to real estate /Jim Balthaser and Thomas J. Callahan
Resumen.
The economic performance requirement, under Section 461, that real estate developers wait until all economic performance test elements have been met before adding the cost of common improvements to the basis of benefitted units at best meant delays before deductions could be taken, and at worst meant such costs were never recovered. Now, new Revenue Procedure 2023-9 provides developers a safe harbor.
IMPUESTOS
PROPIEDAD INMOBILIARIA
CONTABILIDAD FISCAL
ESTADOS UNIDOS
Callahan, Thomas J.
Journal of Taxation of Investments 0747-9115 v. 40, n. 3, Spring 2023, p. 29-31