On May 28 of this year, the U.S. House of Representatives passed The American Jobs and Closing Tax Loopholes Act of 2010. Among other things, the act would add a new provision which will tax real estate professionals on their “profits interests” at ordinary income tax rates. The U.S. Senate is now considering this legislation. This article addresses the proposed carried interest legislation and its’ impact on the current real estate market.
Length: 2 pages (PDF 96 kB)