Today I came across a thorough article (by- Laura Saunders (WSJ Journalist) answering tax questions (some pertaining to real estate) that many people may have right now. I provide the link here along with some screenshots below in case you're not a member of the WSJ. My goal is to always provide the best service and to be on the look out for beneficial information.
You will find this helpful but most importantly, speak to your tax adviser. Will talk to you all in the New Year, thank you!