Termination Payment for Failed Real Estate Deal Was Ordinary Gain

In CRI-Leslie, LLC v. Commissioner, 147 T.C. 8, the court addressed the tax treatment of a termination payment received from a real estate deal that fell through. The court concluded that the termination payment was ordinary gain, not capital gain, for the taxpayer. This is an important topic and an important case, as this is […]

The post Termination Payment for Failed Real Estate Deal Was Ordinary Gain appeared first on Houston Tax Attorney: Texas Lawyer.

1231 gaincapital gaincharacterIRS auditTax BlogTax Law Blog

Best-Tax-Attorney-In