Mortgage broker is not a real estate professional
By: Kirk, David [author]
Language: English Copyright date: 2018 In: Journal of Accountancy Jan2018, Vol. 225 Issue 1, pages 56 - 56Summary: The article discusses the court case in which independent contractor Kurt Hickam claimed rental real estate loss deductions on his 2011 and 2012 tax returns for the properties he owns and by his family members. The U.S. Internal Revenue Service (IRS) found that the passive activity loss rules should be applied. The court ruled that Hickam's mortgage brokerage services and loan origination services were not qualified as real property trades or businesses under Sec. 469(c)(7)(C)| Item type | Current location | Home library | Call number | Status | Date due | Barcode | Item holds |
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JOURNAL ARTICLE
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COLLEGE LIBRARY | COLLEGE LIBRARY PERIODICALS | Not for loan |
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The article discusses the court case in which independent contractor Kurt Hickam claimed rental real estate loss deductions on his 2011 and 2012 tax returns for the properties he owns and by his family members. The U.S. Internal Revenue Service (IRS) found that the passive activity loss rules should be applied. The court ruled that Hickam's mortgage brokerage services and loan origination services were not qualified as real property trades or businesses under Sec. 469(c)(7)(C)
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