Tax Law Maintains Real Estate Status Quo

The massive tax-extension law that President Obama signed  at the end of 2010 keeps tax brackets and the capital gains rate at existing levels for two more years and maintains other key real estate provisions such as the 15-year cost recovery period for leasehold improvements, 25 percent depreciation recapture rate, and the deductibility of expenses related to brownfields remediation, The law also extends some energy efficiency tax benefits.