This course is a ‘deep dive’ into all things real estate tax-related for the mid-level practitioner moving into this complex area. You will deepen your understanding of the complex considerations and strategies that individuals must navigate in acquiring, holding, managing, constructing, and disposing of real estate. You will leave the course able to navigate critical issues associated with the relevant returns and plan strategically for your company or clients. We will discuss in detail the impact the Tax Cuts and Jobs Act continues to have on the real estate industry, as well as the impact of COVID-19.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
CPAs who do or will advise clients or their company on issues related to the acquisition, holding, management and disposition of real estate
BENEFITS
- Learn how to determine the taxpayer’s basis in the property
- Learn the rules of real estate development
- Learn how the IRC taxes rental operations
- Learn how to calculate gain or loss on the sale of real estate
- Understand the complex rules of depreciation, bonus depreciation, and Section 179
- Understand when a taxpayer can take advantage of the QBI deduction under Section199A related to rental real estate
- Understand the at-risk rules
- Understand the passive activity rules
- Understand the like-kind exchange rules
HIGHLIGHTS
- Installment sales
- Rental operations
- Depreciation and recapture
- Determination of basis
- Passive activity losses
- At-risk rules
- Like-kind exchanges
- Calculation of gain or loss on sale of real estate
COURSE LEVEL
Intermediate
PREREQUISITES
Some experience preparing tax returns involving real estate holdings and transactions
ADVANCE PREPARATION
None