Realized Blog

Amr Tenney

Recent Posts

What Assets Get a Step-Up in Basis at Death?

The step-up basis tax provision can be a crucial estate planning tool since it allows real property owners to bequeath assets to their heirs at a “stepped-up” basis of current market value rather than what they originally paid for the property.

Posted by Amr Tenney on Oct 14, 2021

What Is A Tax-Free Savings Account And How Does It Work?

Canadians looking to build their wealth for the future have many options. One of these is a tax-free savings account, or TFSA. Not only does this function as a savings account, but it also can serve as an investment vehicle. Here’s what you need to know about Canadian tax-free savings accounts before you open one.

Posted by Amr Tenney on Oct 10, 2021

Topic: Tax

Can a Qualified Opportunity Fund Be Self-Certified?

The Opportunity Zone Program came into existence during 2017, backed by the idea that there are trillions of dollars in capital gains looking for an investment. By placing those capital gains into Qualified Opportunity Funds (QOFs), the monies support Qualified Opportunity Zone Property (QOZP) in more than 8,000 federally designated low-income areas across the United States. In return, investors receive tax deferral benefits.

Posted by Amr Tenney on Oct 5, 2021

What Is a 99-5 Transaction?

A “99-5” refers to IRS Revenue Ruling 99-5, which discusses the federal income tax consequences of a transaction that takes place changing a single-member LLC (limited liability corporation) into a partnership for federal tax purposes.

Posted by Amr Tenney on Sep 28, 2021

What Is a Delayed Section 1031 Tax Exchange?

If you’ve been reading our blogs on a regular basis, you know all about the 1031 exchange. Sometimes called the “like-kind” exchange, Section 1031 of the Internal Revenue Code allows you to “exchange” a current property used for investment or business purposes (the “relinquished” property) into another property (the “replacement” property). Doing so means you can defer capital gains on the disposal of your relinquished property.

Posted by Amr Tenney on Sep 16, 2021

Topic: 1031 Exchange

Can Additional Census Tracts Be Nominated as Opportunity Zones?

No one will likely soon forget the many painful financial lessons learned during the Great Recession, especially real estate investors who saw their property values plummet by more than half when the U.S. housing bubble burst in 2008.

Posted by Amr Tenney on Sep 10, 2021

How to Convert 1031 Exchange Property Into Personal Property

Retail investors often purchase single-family residential properties or multiplexes to complete a 1031 exchange.

Posted by Amr Tenney on Aug 31, 2021

Topic: 1031 Exchange

Can Opportunity Zone Investments Be Used for Housing?

While you mainly hear about opportunity zone investments for businesses, some investors wonder if they can use investments in Qualified Opportunity Zones (QOZs) for housing. The answer, with stipulations, is yes, but the housing must meet specific requirements to qualify.

Opportunity zones were established in 2017 under the Tax Cuts and Jobs Act to boost the real estate in certain areas of the United States. Investors can purchase real estate in these designated zones through Qualified Opportunity Funds (QOFs). Investments can be for many types of real estate including commercial, multi-family, or single-family housing, under certain conditions.

Posted by Amr Tenney on Aug 24, 2021

Can You Do a 203K Loan for an Investment Property?

An FHA section 203(k) loan enables you to either buy or refinance a home and use the mortgage proceeds to make needed repairs. However, you can only use 203(k) funds for your primary residence. Still, since the Federal Housing Administration insures the products, they may be more accessible to some consumers with credit or income limitations than other rehabilitation loan options.

Posted by Amr Tenney on Aug 18, 2021

What Is a Tax Haven?

According to Merriam-Webster, the word “haven” is defined as:

Posted by Amr Tenney on Aug 7, 2021

Topic: Tax

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