Proposed Excess Business Loss limits could hurt real estate pro’s, others with active losses, including cash losses.
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
In lieu of an in depth analysis, partnerships may utilize one of three ‘snapshot’ methods to comply with tax capital reporting requirements.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.