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Tax Implications of Installment Sales

More and more taxpayers it seems are finding themselves compelled to engage in a structured installment sale of closely held business assets or rental real estate and I couldn't help but notice that there are some common misconceptions about the

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Posted in 1031 Exchange, 1231 Exchange, Installment Agreement, Tax Deductible Expenses, Tax Guidance & Preparation

Tax Treatment of Land Easement Transactions Rental Income vs. Sales Proceeds

According to the National Association of Tax Preparers the key to reporting transactions that involve land easements is to first determine whether the payment represents rental income or sale proceeds.  If the taxpayer was leasing a land easement for a

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Posted in Capital Gain, Capital Loss, Farm Tax, Rental Real Estate

Capital Gains and Losses – IRS form 1040 Schedule D

Everything you own and use for personal or investment purposes is a capital asset including a home, household furnishings and stocks and bonds held in a personal account.  When a capital asset is sold, the difference between the amount you

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Posted in Capital Gain, Capital Loss
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