Taxation of real estate and homebuilding activities has been subject to IRS scrutiny, primarily complying with cost capitalization issues and revenue recognition, including costing out for units sold.

This course includes an in-depth analysis regarding tax accounting methods for various real estate and homebuilding activities, including the application of IRC Section 263A (capitalization and inclusion in inventory costs of certain expenses) and IRC Section 461 (general rule for the taxable year of deduction). This program will provide clear insights to approach compliance with costing rules, avoid IRS audit adjustments, and obtain the most beneficial tax results for the home builder/developer.