planEASe Software Version 6.1 - 1997

The 1997 Tax Bill establishes a Capital Gain Tax Law for Individuals (NOT Corporations) that recaptures any Cost Recovery (Depreciation) taken during the Holding Period at a 25% Tax Rate. After this Cost Recovery Recapture, the remaining Capital Gain is taxed at the new 20% rate widely publicized in the press. This update started shipping with one week of the new law being signed.

V6.11 Enh - Edit/Transfer Pages
In Edit/Transfer Pages, we have added Indent and Outdent menu choices. Indent inserts the "&" character in front of the Page Titles of all selected pages that do not already have it there. Outdent performs the opposite function ... it eliminates the "&" character from in front of the Page Titles of all selected pages in the Assumption Page List. This allows you to "hide" a group of pages (like Indenting all the detailed Capital Spending in a development Pro Forma printed in annual mode) and then easily restore the original Page Titles to print the detailed Pro Forma for the first year in monthly mode. You can do the same thing by editing the Page Titles of all affected pages, but this sure is easier!!
V6.11 Enh - Square Footage / Units Income Statements
The first and last years of the Square Footage / Units Income Statements were not corrected to show full year values in the case where the columns represented partial years. Many thanks to Don Huddleston for the suggestion.
V6.11 Enh - Lease Analysis
Lease Analysis now comes up in Lease View if you are viewing/editing a Revenue Assumption Page (and Summary View, as before, if you are not on a Revenue Page). If you rename the Risk Button to Lease (see File/Preferences), it provides an instant expanded audit of your lease as you are structuring it.
V6.11 Enh - Capital Gain Tax Law
The 1997 Tax Bill establishes a Capital Gain Tax Law for Individuals (NOT Corporations) that recaptures any Cost Recovery (Depreciation) taken during the Holding Period at a 25% Tax Rate. After this Cost Recovery Recapture, the remaining Capital Gain is taxed at the new 20% rate widely publicized in the press. This separation of the Capital Gain into two "buckets" taxed at different rates required that we change planEASe both to allow you to enter the required rates (which may change) and allow planEASe to calculate the resulting Capital Gain Tax amount. The format and logic of the Sale Report has also been revised for the logic in the new law, and we now allow you to set the prior Cost Recovery amount as well as Substitute Basis for properties exchanged into. Please refer to the fuller details in the Help File's Capital Gain Rate, Cost Recovery Recapture Rate, and Exchange Basis topics. Many many thanks to Gene Trowbridge for his help here.

You will find that your Assumption Sets from previous versions are seamlessly read into version 6.1 (and following), and the previous Capital Gains Rate and Capital Gain Inclusion fields are automatically converted into the 20% Capital Gain Rate and the new 25% Cost Recovery Recapture Rate without your having to enter them. You can, of course, change these fields to whatever (fictitious) values you want thereafter, if you want to investigate the effect of further rate adventures on the part of our government. Both these rates for Corporations remain at 34%, so be sure to change them back to 34% for any Assumptions Sets prepared for Corporate investors.
V6.11 Enh - Income Statements
In Income Statements we've added a "Cum Suspended Losses" line in the tax section showing the total amount of suspended losses at the end of each year. Thanks to Gene Trowbridge and Carl Russell for the suggestion.
V6.10 - 6.11 - Fixes
  1. In the new Rent Roll, sorting on the Start and End columns would mis-sort if some of the dates were after the turn of the century. Thanks to Leigh Johnstone. Also in the Rent Roll, entering/editing some values would mis-compute and save wrongly when Monthly was checked. Thanks to Cliff Crowe for the report. Additionally, several users have reported occasional (and non-repeatable) difficulty in exiting the Rent Roll, occasionally causing a planEASe shutdown. We think we have fixed this problem, and would appreciate any reports of continued difficulty in this area.
  2. If you entered a negative loan, the APOD erroneously showed the debt service to be positive. Other reports displayed properly. Thanks to Terry Moore for the report.
  3. In version 6.1 (not earlier versions) the File/Open Assumptions dialog would not display the Investment Name and Assumption Set Comments for Assumption Sets saved with version 6.1. Assumption Sets saved with earlier versions displayed properly. Likewise, in Edit/Transfer Pages, if you used OpenSourceFile with an Assumption Set saved with version 6.1, the page titles would not display properly and the source file could not be used for Transfer Pages. Assumption Sets saved with earlier versions displayed properly. Thanks to Gary Gregory for the first report.
  4. When using Expense Growth Methods 10 and 11 (Linear Growth), you would more often than not get nonsensical values. These methods worked fine for revenues. Thanks to Phil Woollcott for the report.