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Realtors® Applaud Final Passage of Legislation to Extend Key Real Estate Tax Provisions

Thursday, December 18, 2014   /   by Jason Stockwell

Realtors® Applaud Final Passage of Legislation to Extend Key Real Estate Tax Provisions

Realtors® Applaud Final Passage of Legislation to Extend Key Real Estate Tax Provisions



WASHINGTON (December 17, 2014) – The following is a statement by National Association of Realtors® President Chris Polychron:



“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment.


Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed. We are grateful to Sens. Debbie Stabenow, D-Mich., and Dean Heller, R-Nev., and Reps. Tom Reed, R-N.Y., and Charlie Rangel, D-N.Y., for championing the provision.       


“The legislation also includes one-year extensions of the 15-year depreciation schedule for leasehold improvements and the deduction for improvements to energy efficient commercial buildings.”


The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.


 


Media Contact: Jenny Werwa / 202-383-1193


http://www.realtor.org/news-releases/2014/12/realtors-applaud-final-passage-of-legislation-to-extend-key-real-estate-tax-provisions


 
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The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Jason Stockwell - Team Stockwell / ReMax Results are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated September 20, 2020
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