Rental real estate can generate non-cash losses through depreciation of its building and improvements as well as accruing interest on mortgages it may have. If the property is owned by a limited partnership these losses are passed through to the individual partners in the partnership on their K-1.
Typically occupied by a Republican in the largely conservative district, the recently vacated House seat in New York's 26th Congressional District is now to be occupied by a Democrat.
U.S. President Barack Obama said Palestinians should not seek the United Nations’ help in establishing a state, but should rather negotiate directly with the Israelis.
Kathy Hochul is projected to be the winner of the New York special election for the 26th distric Déjà vu. An overwhelming underdog wins a special election with huge national implications.
As the risk of severe thunderstorms continues following tornadoes in the MidWest and South over the past few days, a new compilation of impact in 2011 finds that nearly 500 people have been killed and about 1,000 twisters have struck so far.
Foreign militants are assembling in Pakistan’s wild western tribal areas preparing to assault international soldiers across the border in Afghanistan, according to a former al-Qaeda operative recently captured by NATO forces.
Democrat Kathy Hochul has scored an upset victory in upstate New York House district, Tuesday.
The next chief of the International Monetary Fund (IMF) will likely be one of two candidates, France Finance Minister Christine Lagarde (who has officially announced her interest in the job) and Mexico’s central bank governor Agustin Carstens, who is also lobbying for the sought-after position.
New Jersey governor Chris Christie slammed a state Supreme Court ruling ordering him to restore $500 million in education funding, saying the court was exceeding its authority and forcing the state to spend foolishly.
Brian David Mitchell, a religious fanatic charged with kidnapping, raping and pushing the then 14-year-old victim Elizabeth Smart into a polygamous relationship, is possibly set to face a life term when he is sentenced on Wednesday.
The Supreme People's Court - the highest court in Mainland China - has ordered lower courts to suspend death sentences for two years, but only in cases that does not call for immediate execution.”
On May 25, Obama with first lady Michelle Obama and David Cameron with Samantha Cameron served lunch to U.S. and British military service members, veterans and family members in a courtyard at 10 Downing Street in London.
Two French women are filing official complaints against a government minister they accused of sexual harassment, a report said.
Former senator and presidential candidate John Edwards is facing prosecution for allegedly circumventing campaign finance laws in an attempt to cover up an extramarital affair, ABC news reported.
In the run-up to Turkey’s national elections next month, the ruling Justice and Development Party (AKP) is seeking the support of a rather unusual group – the country’s Kurdish minority population.
After celebrating 60 years of peaceful liberation, Tibet heard that the Dalai Lama has turned down pleas to accept a ceremonial role in the Tibetan government-in-exile after giving up his position as political leader, a top Tibetan leader reported.
Crowded prisons are not merely a Third World phenomenon as a recent U.S Court ruling cited California prisons for violating the U.S. constitution by packing too many prisoners into already overcrowded cells.
Eight people were killed in three states due to violent storms that swept through a swath of the central U.S.
French Finance Minister Christine Lagarde announced on Wednesday that she will be seeking to lead the International Monetary Fund.
European Union has besieged more Iranian shipping companies as a move to tighten sanctions which have been imposed on the Islamic Republic.
Hugo Chavez's government has condemned United States sanctions which imposed Venezuela's state oil company for doing business with Iran.
The protests against President Ali Abdullah Saleh by the powerful tribes of Yemen left 38 dead on Tuesday as the uprising threatened to turn into a militia-led revolt.
Three nuclear reactors at a Japanese nuclear plant suffered meltdowns within days, the plant’s operator told Reuters on Tuesday.
Rainforest activist and his wife were ambushed and shot dead in the Amazon state of Para in northern Brazil on Tuesday.
Former Egyptian president Hosni Mubarak will be put on trial and he face criminal charges relating to the deaths of unarmed protesters during the pro-democracy uprising early this year that ended the 30-year dictatorship.
A Taliban suicide bomber killed six people, ramming an explosives-laden truck into a three-storey police station in Peshawar, officials said.
Many theories are floating around the dramatic withdrawal of Ahmadinejad who usually likes world stages to whip up controversies and hog limelight through incendiary rhetoric.
Obama made it cordial with Prince Phillip in a mid-twentieth century style tailcoat reaching below his knees, and Michelle dazzled in an immaculate white gown with criss-cross V-neck, gloves and a matching clutch.
Two-time Democratic presidential candidate John Edwards is likely to face an indictment for using campaign donations to conceal an extra-marital affair and love child, ABC News reported on late Tuesday.
John Edwards, former Democratic Senator and vice-presidential running mate of John Kerry in 2004, could be prosecuted in a case relating to campaign rule violation, it has been reported.
