Tax Court broadly applies UNICAP rules to real estate developer. (uniform capitalization): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1995. The length of the article is 527 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The Tax Court ruled in Von-Lusk that pre-production costs incurred by a limited partnership preparing to develop real estate must be capitalized under IRC section 263A. The partnership had argued that capitalization is only required when production begun, which it had not in this case. There is some indication that the costs might have been currently deductible if expenses were better documented.

Citation Details
Title: Tax Court broadly applies UNICAP rules to real estate developer. (uniform capitalization)
Author: Richard Garrett
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 223(1)

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