Buy or Sell Real Estate After the 1997 Tax Act: A Guide for Homeowners and Investors (Paperback)

~ (Author) "IN 1997 CONGRESS passed and President Clinton signed a sweeping tax reduction bill that was hailed as the most significant reform in 11 years, 21..." (more)
Key Phrases: qualified rollover contribution, adjusted net capital gain, such taxable year, Internal Revenue Service (more...)

Editorial Reviews

Product Description

Of all the areas affected by the 1997 Taxpayer Relief Act—the most sweeping tax reform agenda in years—perhaps the greatest impact will be in real estate. From the capital gains reduction on investment property to the new $500,000 exclusion on the sale of residences, the revisions are numerous—and complex. This concise, easy-to-understand book clarifies and simplifies these changes for you, explaining exactly what the revisions are, what they mean for your holdings, and—perhaps most importantly—how you can profit from them when buying or selling residential or commercial real estate.

With the very latest information on capital gains, home office deductions, home exclusions, and other modified provisions, Buy or Sell Real Estate after the 1997 Tax Act shows you how to:

• Formulate effective strategies to achieve the best returns
• Take advantage of tax-free exchanges
• Use new exclusions to save money when selling your home
• Manage rental property sales
• Choose between trading and selling
• Determine your taxes under the new rules

Here is an authoritative, accessible, and thoroughly indispensable guide for anyone looking to understand—and capitalize on—the new tax law changes in real estate.

From the Publisher

Recently, investors let out their collective breath: the capital gains law had passed. This book concerns itself with this long-awaited legislation specifically as it impacts on buying, selling and investing in real estate. For readers involved in both residential and commercial transactions, it is an essential resource. Drawing on Robert Irwin's more than 30 years as a real estate professional, it provides countless strategies and tips for obtaining all of the benefits allowable under the new law--including timing the buying and selling of properties for optimum profit. Weighs the pros and cons of tax-free exchange vs. paying capital gains and tells how to combine tax deferral with capital gains when purchasing a less expensive home. Also covers acquisitions intended for quick resale.

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Product Details

• Paperback: 210 pages
• Publisher: Wiley (January 5, 1998)
• Language: English
• ISBN-10: 0471147230
• ISBN-13: 978-0471147237
• Product Dimensions: 9 x 6 x 0.6 inches
• Shipping Weight: 10.7 ounces (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon.com Sales Rank: #1,712,303 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

5 of 5 people found the following review helpful:

4.0 out of 5 stars Suitable as an introduction, January 1, 2003

By	half "half" (Diamond Bar, CA United States) - See all my reviews

This book can serve as an introduction to taxes as related to real-estate transactions. It is a quick and easy read, and seems to be targeted at the least sophisticated possible investor. It does a good job of explaining the major points of the new tax laws, and is filled with short examples. (In my opinion, at least half the examples are so simple that they should be eliminated, for they illustrate nothing beyond what can be said in a single simple sentence). However, any slightly sophisticated investor will need more than this book can offer. The strategies offered are seldom beyond the obvious and unattractive ones (e.g. move into your intended for-sale property 2 years before selling, then do that over and over). In short, an easy read as an introduction, but leaves you wanting more.