Joshua Tree Enterprises

Sign Up for Newsletter

About this Entry

This page contains a single entry by Associate Editor published on September 18, 2009 1:45 AM.

IRS Letter Ruling by Ronald J. Shoemaker: "On Initial Member's Death, Exempt Organizations Will Not Control Trust" was the previous entry in this blog.

IRS Administrative Ruling: "Property Transferred Before Death Not Subject to Step-Up Basis Rule" is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Categories

Monthly Archives

IRS Administrative Ruling: "Property Basis, Demolition Costs Recoverable as Offset Against Land Sale Proceeds"

By
Associate Editor
on September 18, 2009 TrackBacks (0) Comments (0)

In a response e-mail, the IRS issued advice on a real estate taxation issue. The Service came to the conclusion that the remaining basis in a damaged building and the cost of its demolition  are only recoverable as an offset against proceeds from the sale of the land on which the building was located.

See Tax Analysts: "Property Basis, Demolition Costs Recoverable as Offset Against Land Sale Proceeds," 2009 TNT 175-54, March 18, 2009

Posted by Raj Chudgar, Associate Editor, Wealth Strategies Journal



Categories:

0 TrackBacks

Listed below are links to blogs that reference this entry: IRS Administrative Ruling: "Property Basis, Demolition Costs Recoverable as Offset Against Land Sale Proceeds".

TrackBack URL for this entry: http://www.wealthstrategiesjournal.com/mt/mt-tb.cgi/2231

Leave a comment