Help your clients understand and correctly handle taxes associated with property transactions. Understand important property-related timing issues and planning opportunities that can lead to significant tax savings. Gain a practical understanding of the various complex tax laws dealing with the sale, disposal, or exchange of property. Understand the rules dealing with like-kind exchanges and involuntary conversions, all updated for tax reform.
DESIGNED FOR
Tax staff and senior associates in public accounting
Tax professionals in industry
BENEFITS
- Calculate the tax basis of replacement property acquired following an involuntary conversion.
- Determine the amount of gain or loss on the sale of property.
- Determine the character of recognized gain or loss on property dispositions.
HIGHLIGHTS
IRC Sections 1231, 1245, and 1250
Depreciation recapture
Capital gains and losses
Nonrecognition transactionsCOURSE LEVEL
Intermediate
PREREQUISITES
Basic knowledge of property transactions and taxation
ADVANCE PREPARATION
None