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COR2428. Expiring TCJA Provisions and Potential Planning Considerations

This session will focus on the expiring Tax Cuts and Jobs Act (TCJA) provisions that are particularly relevant to real estate owners, operators, and investors, including the deduction for real estate businesses and real estate investment trust (REIT) dividends under Section 199A; the limitation for business interests deductions under Section 163(j); the availability of bonus depreciation for certain business expenditures under Section 168(k); the limitation on the deductibility of excess business losses under Section 461(l); and the deferral/elimination of capital gains with respect to investments in qualified opportunity funds under Section 1400Z-2, as well as the expiration of some ancillary provisions, including the cap on deductibility of state and local taxes; the elimination of itemized deductions; and the reduced marginal income tax rates on individuals. Additionally, we will discuss the tax impacts of the expiration of these provisions and some potential planning considerations that may be utilized to help mitigate or minimize some of the resulting negative impacts.


Learning Objectives:

  • Identify the real estate-related provisions of the Tax Cuts and Jobs Act (TCJA) set to expire within the next few years, and the potential impacts of the expiration of these provisions to real estate owners, operators, and investors.
  • Determine potential planning opportunities to help mitigate or minimize certain impacts of the expiration of these provisions.
Date/Time
CPE Credits
1.5
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
3-4 years in the profession
Advanced Preparation
NA
Session Tags
Tax - Real Estate