Save 9% on your taxes!? Section 199 Deduction
I can't find much discussion of this, which makes me suspect I haven't actually stumbled onto some magical tax loophole. But what discussion I can find seems to indicate it applies to some real estate activities. Hoping the BP brain trust can enlighten me.
From the Journal of Accountancy on "Maximizing the Section 199 Deduction"
And the most relevant section:
Here are some additional links I found:
Home Builders Safe Harbor in Code Sec. 199
Section 199 Real Estate Developers Stake Your Claim
Section 199 as it applies to Construction and Real Estate PDF