Description

Understand taxation of property transactions

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.

Practical understanding

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.

Instructor: Shelley Rhoades-Catanach

Target Audience

Tax staff and senior associates in public accounting

Tax professionals in industry

Course Objectives

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.

Subjects

IRC Sections 1231, 1245, and 1250

Depreciation recapture

Capital gains and losses

Nonrecognition transactions

Prerequisites

Basic knowledge of property transactions and taxation