Optimizing Residential Real Estate Deductions (JofA) - The tax deduction rules for residential landlords have changed dramatically in recent years, with the release of the final tangible property regulations in 2013 (T.D. 9636) and the creation of the qualified business income (QBI) deduction...
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What to Tell Clients About Related Party Sales (Accounting Web) - You can usually claim losses on investments when you sell them. But Internal Revenue Code Section 267 generally disallows deductions for losses on sales to certain family members and other related parties.
AICPA Rescinds Guidance on Prior-period Audits (JofA) - A newly revised AICPA Technical Question and Answer (TQA) provides nonauthoritative guidance for performing an audit and reporting on an entityâs prior-period financial statements.