Trusts Qualifying as Real Estate Professionals

, New York Law Journal


In their Taxation column, Ezra Dyckman and Libin Zhang of Roberts & Holland discuss the "Frank Aragona Trust" case—the first authority that has held that a trust can be a real estate professional and can therefore generate non-passive income and losses from its rental real properties. The authors explain that the holding is limited to the taxation of non-grantor complex trusts, but such trusts may benefit substantially with some proper structuring and designation of trustees.

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