For instance, the taxpayer may qualify as a real estate pro from their development biz and may be able to demonstrate material participation in their rentals making the income non-passive.

in a former life I practiced tax before the irs doing problem resolution, it would take months to clear up with irs, he needs to first write a letter to IRS explain the problem with all the backup documentation and send to the service where he  files his return, after they do nothing for 90 days then he can then contact the Taxpayer Advocate, and then has a chance of getting it taken care of, but it will still take another 30 days.  

http://www.citylab.com/politics/2015/09/the-never-ending-stadium-boondoggle/403666/"Subsidizing stadiums is an economic disasterThe overwhelming conclusion of decades of economic research on the subject is that using public funds to subsidize wealthy sports franchises makes zero economic sense and is a giant waste of taxpayer money.

There are three (3) IRS Private Letter Rulings that essentially allowed the taxpayer to sell existing property and construct new buildings/improvements on land that they already owned through a 1031 Exchange. 

A taxpayer with real estate professional status is able to deduct all net passive loss from residential rental activities without regard to the $25K net passive loss limitation or the high income phase out rule.  

Whether you’re a resident or not, you’d file a tax return the same way.On another notre, I’m not a US taxpayer and even less a tax specialist but I might have seen somebody suggesting that you’d have right to a certain income from overseas tax free or something.

A Taxpayer may identify as many as 3 alternate properties of any value.

Hi, I own an unimproved lot and capitalize HOA fees and property taxes every year to increase the property basis by amending my taxes and adding something like the following “magic” text as required by the IRS:“For tax year 2021, taxpayer hereby elects under Code Section 266 and IRS Regulations 1.266-1 to capitalize, rather than deduct HOA fees paid in the amount of $#### and $#### property taxes as carrying costs on a vacant lot that is unimproved and non-productive bare land.

If the net result is (1) an overall gain and the taxpayer has other passive activities, or (2) an overall loss and the taxpayer has net income or gain from other passive activities, the income and losses are posted to Worksheet 1, 2, or 3 of Form 8582. 

This sounds like an inexperienced QI who's reading from the manual and doesn't know the right follow up questions.In a 1031 the tax payer for the new property has to be the same as the tax payer for the old property.