The Taxpayer Relief Act of 1997 and Homeownership PDF Download
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Author: Amelia Marie Biehl
Publisher:
ISBN:
Category :
Languages : en
Pages : 226
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Book Description
Author: Amelia Marie Biehl
Publisher:
ISBN:
Category :
Languages : en
Pages : 226
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Book Description
Author: Gary Painter
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The Taxpayer Relief Act of 1997 (TRA97) replaced a one-time, post- age 55 capital gain exclusion with a larger gain exclusion amount that could be protected every two years without requiring that the taxpayer trade up in housing. This action had the potential to impact housing transactions for every existing homeowner, regardless of age, as well as future purchasers of housing. We analyze household-level data to determine if the repeated ability to exclude periodic recognized capital gains on housing from taxation shortened housing tenure significantly after TRA97 became effective. We next consider whether the decline was heterogeneous across age groups, across trading up and trading down, and across geography. Given that the impact of the Act appears at first glance to be most profound for taxpayers close to 55 years of age, a somewhat surprising result of our research is that significant decreases in tenure are pervasive, appearing in all age ranges and in samples of homeowners who trade up and who trade down. Finally, we provide additional evidence at the aggregate level that TRA97 led to measurable changes in the price elasticity of housing turnover in the four geographic regions defined by the U.S. Census Bureau (Northeast, Midwest, South and West) and in states that are home to large metropolitan housing markets.
Author: Andrea Heuson
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 33
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Author:
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 62
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Author: Hui Shan
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Author: James Monke
Publisher:
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Category : Farms
Languages : en
Pages : 36
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Author:
Publisher:
ISBN:
Category : Real estate investment
Languages : en
Pages : 36
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Book Description
Author: United States. Congress
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 828
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Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 204
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Book Description
The Taxpayer Relief Act of 1997 is now law. What are these new tax changes? How will they affect businesses and individuals? This comprehensive guide answers these critical questions and more, with a thorough review of the principal provisions of the legislation and how they will impact everything from capital gains and estimated taxes to IRAs, estates, gifts, and trusts. The experts at Coopers & Lybrand have harnessed the detailed analytical and interpretative skills their clients depend on to give CPAs, financial planners, and consumers the vital information they need to navigate these complex provisions with confidence. Inside you'll find: Indispensable planning tools for capitalizing on opportunities and minimizing negative consequences of the tax act Observations, examples, and tips—crucial hands-on help for working with the new rules Easy-reference charts and tables with instant summaries of key information Effective dates of tax law changes—essential data for successful planning And much more.
Author: Robert Irwin
Publisher: Wiley
ISBN: 9780471147237
Category : Business & Economics
Languages : en
Pages : 226
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Book 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.
