February 19, 2021

The Mann Report published an article by Director Robert Johnson in the February finance issue, about the discharge of qualified real property business indebtedness (QRPBI).

By Robert Johnson, Director, Tax & Business Services

The Mann Report published an article by Director Robert Johnson in the February finance issue, about the discharge of qualified real property business indebtedness (QRPBI). Real Estate

Excerpt:

Real property used in a trade or business is depreciable, while real property held for sale is considered inventory and thus not depreciable. Since one of the provisions of the income exclusion on QRPBI requires a reduction of the depreciable basis, this would exclude real property held for sale from getting the QRPBI income exclusion.

Click here to read a PDF version of the article >>

New call-to-action

Coronavirus Resource Center

Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.

Related Industry

Real Estate