Course ID: RECE2

Real Estate Capitalization and Expensing Rules

A lot has changed regarding capitalization of real estate. The 2014 changes to regulations related to capitalization significantly increased the situations in which improvements to real estate must be capitalized. But the Protecting Americans from Tax Hikes Act of 2015 made a number of changes that allow for faster cost recovery in certain cases, including making permanent the use of Section 179 for certain real estate transactions and allowing bonus depreciation in some cases with real estate. This two-hour session takes a look at how recovering the cost of real estate is handled under the most recent changes to the law and regulations.


LEARNING OBJECTIVES
  • Explain the portions of a building that qualify as a unit of property Apply the three elections available under revised capitalization rules Identify situations where a cost segregation study may make sense List real estate that can qualify for immediate expensing or accelerated depreciation

MAJOR TOPICS

Unit of property rules for real estate under the tangible property capitalization regulations De minimis election as it relates to real property Small building safe harbor for real property Real property section 179 opportunities


DESIGNED FOR
CPAs who advise taxpayers that have real property rentals or use real property in their trade or business.

FIELD OF STUDY
Taxes

PREREQUISITES
Experience with advising taxpayers with real estate or preparing tax returns with real estate

COURSE PRODUCER
Loscalzo Associates

CPE CREDITS
2.0

LEVEL
Update
 

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