469(c)(7)(C) encompasses "any real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage trade or business." Prop. 1.163(j)- 9.Ī trade or business under Sec. 1.163(j)- 9(g), that (2) makes the election to be a real property trade or business under Sec. 469- 9(b)(2), or real property trades or businesses conducted by real estate investment trusts, as described in Prop. 163(j)(7)(B), an electing real property trade or business is (1) a trade or business that is a real property trade or business, as described in Sec.
115- 97, fundamentally shifted the scope of the interest expense deduction limitation under Sec. The 2017 tax law known as the Tax Cuts and Jobs Act (TCJA), P.L.
This Code section fundamentally affects not just the real estate sector, but also certain infrastructure trades or businesses that may qualify as electing real property trades or businesses in this context. This discussion highlights the treatment of an "electing real property trade or business" for purposes of the interest expense deduction limitation of Sec.