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Real estate investors will get $170B windfall from bailout package

Tucked inside the federal government’s massive economic rescue package is a $ 170 billion windfall for real estate investors. Washington’s $ 2 trillion bill is a provision that allows investors to write down the depreciation on properties beyond the previous limit of $ 500,000 a year, the New York Times reported. According to a draft congressional analysis, it’s the second-largest tax giveaway in the multitrillion-dollar proposal. “It’s a pretty big deal,” Peter Buell, an accountant who heads up

The Real Deal New York

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