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Self-Study — Course Detail

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Tax Answers for Your Real Estate Questions
Sharon Kreider & Vern Hoven
Copyright© 2011

Course: 8112290   Version 1109

NASBA Category:     Taxes     CPE Credits 3
Level: Basic    Run Time: 2.0 Hours
Prerequisite: There are no prerequisites.
Advance Preparation: None.
IRS Program Nbr: 0MYXB-T-00059-12-S





Course Description
DROPPED 12/12/2012
With the tumultuous nature of the current real estate market, even the most experienced tax practitioners can use some guidance in this area. This course provides a comprehensive update of the real estate tax changes that have occurred in 2010 and 2011. Using real examples and cases, tax expert Vern Hoven discusses the current tax codes and rules affecting real estate taxation.
Highlights include:
  • An examination of the new passive loss grouping rules, including discussion of some nasty passive loss cases and guidance on how to avoid these foul results.
  • A review of the installment sales rules, now increasingly useful in avoiding the 3.8% Medicare tax.
  • A comprehensive discussion of the tax ramifications of a foreclosure or repossession, including a review of the cancellation of debt calculation and problems with short sales.
  • A discussion of three like-kind exchange issues: the time limits on regular exchanges, the time limits on delayed exchanges, and common problems with related party exchanges.
  • A summary of the filing requirements for the residential homebuyer credit.
  • A complete update on the latest sale of residence rules.
 You’ll come away with an increased knowledge of this often sticky tax area, and an ability to tackle scenarios exactly like those you see in your office, leaving you better prepared for the upcoming tax season.


Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Section 1
    • Identify recent tax law changes with regard to real estate.
    • Evaluate tax rules and regulations as they affect the financing and sale of personal residences.
  • Section 2
    • Understand the impact of foreclosures and differentiate between recourse and nonrecourse debt.
    • Apply the Internal Revenue Code rules regarding the cancellation of debt.
More Learning Objectives




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