Taxation of Real Estate

Catalog description

This course will explain the U.S. federal income taxation of commercial real estate transactions and vehicles used in these transactions, such as corporations, partnerships, limited liability companies, REITs and REMICs. As time permits, we will cover both: Matters special to real estate taxation such as tax-free exchanges of real property under Internal Revenue Code 1031, Opportunity Zones, mortgage foreclosures and mortgage settlements; and Key underlying tax rules, principles and doctrines--such as determination of basis, tax consequences of liabilities, recognition and nonrecognition of income, cancelation-ofindebtedness, exclusions from income, depreciation, tax rates, capital gains/losses and ordinary income/losses, and economic substance versus form. Topics of discussion are expected to include nonrecognition transactions under 1031 and 1033; mortgage foreclosures; mortgage settlements; and real estate securitizations.