DESCRIPTION
This webinar provides a concise and thorough overview of IRC Section 1031 tax-deferred exchanges for accountants, CPAs, and tax advisors.
This webinar covers critical IRS time deadlines in delayed exchanges, “like-kind” requirements including creative property variations like easements, transferable development rights, oil/gas/minerals rights, vacation homes held for investment, fractional ownership (DST and TICs), partnership/LLC scenarios (and how to best structure in advance of a 1031 exchange), reverse and improvement exchanges, related party transactions and how to avoid common pitfalls and other 1031 related issues. This webinar will summarize current developments regarding applicable Revenue Rulings, PLR’s, and recent IRS guidance on current topics related to 1031 exchanges.
Learn how to help taxpayers owning commercial property in an LLC or partnership plan in advance to help avoid issues at closing if only some of the LLC members or partners want to exchange, including the “drop and swap,” "swap and drop,” Partnership Installment Note (PIN) approaches.
Learning Objective:
Understand what a 1031 exchange is and the exchange process.
Session Highlights:
- Sale v. 1031 Exchange: Understand the tax consequences of a taxable sale and benefits of a Section 1031 exchange.
- Like-Kind Property: Provide an overview of like-kind property including creative 1031 exchange alternatives.
- Delayed Exchange Time Deadlines: Understand the delayed exchange process, 45-day Identification Period and 180 -day Exchange Period deadlines and the Rules of Identification.
- Overview of 1031 Exchange Formats: Simultaneous, Delayed, Parking Arrangements (reverse, improvement and reverse improvement variations)
Who Should Attend?
- CPAs and EAs
- Tax Advisors
- Real estate and Tax Attorneys
- Real estate professionals
- Financial advisors
Credits and other info:
Session Duration: 100 Minutes
Session Prerequisites and preparation: None
Session learning level: Intermediate/advanced
Delivery method: Group Internet Based
NASBA and IRS Credits : 2 Tax Hours
IRS CE Provider #: DFFSC
NASBA Sponsor #: 138804
