About This Chapter
Tax Credits & Property Transactions - Chapter Summary
This chapter provides a high-level overview of tax credits and property transactions. As you follow along with our expert instructors, you'll see how real estate transactions and property transfers affect taxes. You'll also break down topics like tax shelters, passive activity loss and the various types of tax credits. The chapter is available to access at any time that fits your schedule, and we've included short self-assessment quizzes to help you reinforce your understanding of the material. By the end of the chapter, you'll be equipped to:
- Recognize different types of tax credits
- Evaluate tax consequences and deductions in terms of real estate transactions
- Explain tax shelter and passive activity loss rules
- Describe the effect that taxes can have on property transfers
1. What Are Tax Credits? - Definition & Types
By claiming the tax credits that you qualify for on your tax return, you can get a reduction in the amount of taxes you owe. Read this lesson to learn about some of the tax credits available to you.
2. Tax Consequences & Deductions in Real Estate Transactions
Let's look at the tax consequences of real estate transactions. A real estate sell may have deductible expenses, taxable gains, and possibly an exception for those gains. We will also briefly cover tax rules for foreign investors.
3. Tax Shelters & Passive Activity Loss: Definition & Rules
In this lesson, you will learn about the tax benefits of real estate. We will cover the definitions of tax shelters and passive activity losses. Understanding the rules of these topics can help a real estate investor become more profitable.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Accounting 307: Federal Income Taxes course