The Tax and Securities Regulatory Outlook for Real Estate Funds and REITs

Monday, May 19 • 9:00 a.m. – 12:00 p.m. ET

Troutman Pepper Locke will be hosting “The Tax and Securities Regulatory Outlook for Real Estate Funds and REITs” roundtable with Crowe on May 19, 2025. The presentation will address key legal, tax, and audit/finance considerations pertinent to real estate funds and ventures.

Topics may include:

Scheduled Sunset of Various TCJA Tax Provisions

• Section 199A 20% Deduction for Qualified Business Income and Ordinary REIT Dividends
  • Effect of expiration and potential structure to minimize impact of expiration
• Qualified Opportunity Funds
  • Elimination of capital gains deferral and tax-free sale after 10-year hold
  • Potential planning strategy to maximize benefits under current law
• Phase Out of Bonus Depreciation
  • Potential utilization of “repair” regulations where relevant
• Limitation on Deductibility of “Excess Business Losses”
  • Will limitations be further extended or made permanent?

Updates on Securities Offerings in the New Administration

Market Use of 506(c) and General Solicitation

Key Audit Considerations for the Real Estate Industry

• ILPA templates – designed for private equity closed-end funds and potential implications for the real estate industry – reporting and performance template
• Post-election climate (including tariffs) and potential implications for real estate
• Latest financial reporting hot topics

Potential New Tax Legislation on the Horizon

• Extension of TCJA provisions?
• Changes to individual and corporate tax rates
• Taxation of all carried interest as ordinary Income
• Elimination of FIRPTA corporate look-through regulations
• Tax credit for conversion of buildings from commercial to residential use
• Elimination of business SALT and/or local property deductions, and changes to individual SALT deduction limitation