When A Real Estate Sale Results In Ordinary Income – Law360

In the real estate context, however, the exclusion often has been applied to property that is divided up and sold off piece by piece. But the exclusion can have a much broader reach — the Tax Court recently confirmed that it can encompass even an unsolicited and isolated sale of real estate undeveloped by the taxpayer. Fargo v. Commissioner, TC Memo 2015-96 (2015).

via When A Real Estate Sale Results In Ordinary Income – Law360.