tra 1986: The Tax Reform Act of 1986 and Investment Real Estate - 12/29/08 08:10 AM
In 1986 Congress passed a tax reform act (TRA 1986) whichin addition to simplifying the tax code, also eliminated and restricted the tax benefits associated with investment real estate.
The tax reform did three things:
1.)  It limited the adjusted gross income to $100,000 for those individuals that invested in real estate and wanted to be able to depreciate the property and receive a tax deduction for doing so.  The deductions were phased out and pro rated for those with an AGI between 100-150K.  And for those with an AGI of greater than 150K, the losses were carried forward, indefinitely.  Prior to 1986, any American was able to benefit … (2 comments)

 
Mark MacKenzie

Mark MacKenzie

Phoenix, AZ

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