Issue How can treaties between the United States and other countries affect the income of foreign nationals in the United States? Facts Bhutta, a citizen of Pakistan and a foreign medical school graduate, entered the United States in 2009 to…
Congratulations on your New Home Purchase…Oops! You’re liable for Seller’s Taxes! As a buyer, no more rude shock can intrude on your new home celebration than finding out you are liable for Seller’s taxes. Understandably, by the time of…
Issue If a taxpayer converts a home to a rental, when can the taxpayer deduct any losses related thereto? Related Tax Rules or Regulations Internal Revenue Code Section 262, which provides that except as otherwise expressly provided, no deduction is allowed…