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What is Sanchez v. Collector: Real Estate Tax Ruling about?

Veronica Sanchez owned a four-unit apartment building that she constructed in 1947 and had continuously leased to tenants since, managing the property herself. While she also ran a small store, the rental income from the property was her main source of livelihood. The court found that Sanchez met the definition of a real estate dealer under the tax code as someone engaged in leasing real estate for profit. However, Sanchez was entitled to a refund of real estate dealer

Author

KT

Language

EN