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Real Property: For Connoisseurs Of The Preposterous - When Is It A Capital Asset, Michael S. Weiner

Cleveland State Law Review

The tax approach to profit realized from the sale or exchange of real property involves a complex determination of whether it is to be treated as ordinary income or a capital gain. This problem has plagued the practitioner for more than fifty years, and has produced a voluminous body of case law. Developments in recent years have resulted in some clarification, yet to a certain extent, decisions have merely complicated what was already complex.