Do you find real estate-related topics such as passive activity limitations, like kind exchanges, involuntary conversions, and Section 1237 complicated? Learn about these common problem areas in this CPE course so you can avoid mistakes related to these provisions and ensure that your clients receive the most current tax planning and saving strategies for their tax plans.
DESIGNED FOR
Experienced accountants and private industry managers
BENEFITS
- Calculate the limitations on deducting passive activity losses and the at-risk limitations on deducting losses on a current year’s tax return.
- Distinguish between a passive activity that would be subject to the passive loss rules, and an active activity that would not be subject to passive activity rules.
- Identify which property qualifies for Section 1231 treatment.
- Recognize when an involuntary conversion or like-kind exchange may be used to defer tax recognition.
- Calculate gains and losses form property transactions.
- Identify applicable tax rate on gains from property transactions.
- Distinguish between different recapture provisions.
- Determine when the rules regarding the subdivision of real estate under IRC Section 1237 apply to a transaction.
HIGHLIGHTS
- Passive losses
- At-risk rules
- Like-kind exchanges
- Involuntary exchanges
- Expensing versus capitalization
- Capital versus ordinary income
PREREQUISITES
Experience in corporate taxation
ADVANCE PREPARATION
None