Description
In this session, we’ll examine the latest developments impacting a taxpayer eligible to elect out of the interest limitation rules of Section 163(j) as a “real property trade or business.”
- Identify those taxpayers who may elect out of Section 163(j) as a real property trade or business,
- Understand the consequences of such an election for a taxpayer who makes the election in the first year it would otherwise be subject to Section 163(j).
- Understand the consequences of such an election for a partnership who makes the election in a year after in which it passed out excess business interest expense.
- Identify the one-time opportunity afforded by Rev. Proc. 2020-25 to undo a previous Section 163(j)(7) election.
Speaker(s):
