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Thu Mar 26, 2020, 09:16 PM

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package

The federal government’s planned $2 trillion economic rescue package includes financial aid for individuals and industries that are struggling to survive the coronavirus pandemic.

It also includes a potential bonanza for America’s richest real estate investors.

Senate Republicans inserted an easy-to-overlook provision on page 203 of the 880-page bill that would permit wealthy investors to use losses generated by real estate to minimize their taxes on profits from things like investments in the stock market. The estimated cost of the change over 10 years is $170 billion.

Under the existing tax code, when real estate investors generate losses from gradually writing down the value of their properties, a process known as depreciation, they can use some of those losses to offset other taxes. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world.

https://www.msn.com/en-us/money/realestate/bonanza-for-rich-real-estate-investors-tucked-into-stimulus-package/ar-BB11L4im?li=BBnb7Kz

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Reply Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Original post)
Yo_Mama_Been_Loggin Mar 26 OP
dalton99a Mar 26 #1
machoneman Mar 26 #2
jimfields33 Mar 26 #3
Baitball Blogger Mar 26 #5
flamingdem Mar 26 #4

Response to Yo_Mama_Been_Loggin (Original post)

Thu Mar 26, 2020, 09:17 PM

1. Kick

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Response to Yo_Mama_Been_Loggin (Original post)

Thu Mar 26, 2020, 09:19 PM

2. Will House Democrats remove this provision?

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Response to machoneman (Reply #2)

Thu Mar 26, 2020, 09:22 PM

3. There's so much junk in the bill. Kennedy center? A trump desire. WTF?

He bragged about getting that in the bill.

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Response to machoneman (Reply #2)

Thu Mar 26, 2020, 09:27 PM

5. It's been so long that I've seen the process get through the Senate that

I forgot that it now goes back to the House...again?

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Response to Yo_Mama_Been_Loggin (Original post)

Thu Mar 26, 2020, 09:26 PM

4. So if you make a killing in the market - that you are manipulating for instance

you can then turn around and get rid of your real estate losses and keep all that moolah. Perfect for tRump and his cronies.

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