Trust Can Qualify for Sec. 469(c)(7) Exception

The Tax Court held that a trustee's �activities in a trade or business of a trust was work performed by an individual, and, therefore, it was possible for a trust to qualify for the Sec. 469(c)(7) exception to the treatment of rental real estate activities as per se passive activities.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/zg6SNRIP5N4/Tax_Trends_02.aspx

business accounting tucson tucson bookkeeping income tax tucson tucson quickbooks tax accounting tucson