Knowledge Library
Articles and practitioner guidance organized around this planning area.
Insight
Qualification as a real estate professional does not automatically make rental losses nonpassive. Material participation, grouping, documentation, and the taxpayer’s actual activities still control the result.
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A like-kind exchange can defer gain, but identification, timing, basis, debt, replacement-property economics, state tracking, and eventual disposition should be considered together.
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Cost segregation can accelerate depreciation, but passive limitations, business losses, state conformity, recapture, future sale, financing, and current tax capacity affect the actual benefit.
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Short-term rental classification, material participation, personal use, services, self-employment tax, local rules, depreciation, and passive activity treatment require separate analysis.
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Real estate held for sale to customers can produce ordinary income while investment property may produce capital gain. Intent, conduct, frequency, development activity, and documentation matter.
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State residency tests differ. Practitioners should identify every state that could assert residency, apply that state’s test, document the move, and separately analyze income that remains sourced to the former state.
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Home sale planning can require ownership and use tests, partial exclusions, basis reconstruction, depreciation, nonqualified use, divorce, death, rental conversion, §1031 interaction, and state deferred-gain tracking.
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