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September 20, 2017
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Webcast
2
Advanced
Taxes
Intermediate knowledge and extensive experience with 1031 exchanges

Course Description

Section 1031, like-kind exchanges, are the most commonly encountered form of tax deferred transactions. Practitioners with real estate clients will encounter numerous like-kind exchange transactions during a typical year. The rules applicable to the structure of deferred exchanges are set by regulation and must be strictly complied with. More complex transactions sometimes require that another party 'park' the ownership of the property as part of the exchange. This course provides an overview of 1031 exchanges and is a useful guide for practitioners new to these transactions. Tax expert Jim Hamill will cover all aspects of 1031s, including advantages, caveats, requirements, and various compliance issues to help you advise clients seeking to defer taxes from property sales.



Instructor

Jim R. Hamill, CPA, PhD

Jim Hamill is the Director of Tax Practice at Reynolds, Hix & Co., P.A., in Albuquerque, New Mexico, where he provides tax consulting services for real estate, partnership, and corporate clients and also provides estate planning services for families. He is also a managing member of Exchange Facilitators, LLC, which provides qualified intermediary and exchange accommodation titleholder services for Section 1031 exchanges. Jim is the author of over 30 CPE courses and more than 100 articles in professional tax journals and writes a weekly column on tax issues for the Albuquerque Journal. He has lectured on structuring tax transactions throughout the country for over 25 years and does web-based learning for CCH. Jim has taught classes for four of the national CPA firms as well as many other organizations. He is a CPA in New Mexico, a past Chair of the New Mexico Society of CPAs, has 34 years of experience as a tax practitioner, and also taught university tax courses for more than 20 years.



Course Specifics

Taxes
May 24, 2016
Intermediate knowledge and extensive experience with 1031 exchanges
WC18165816
None


Compliance Information

103220
IRS Provider #: 0MYXB IRS Course ID: 0MYXB-T-01031-16-O IRS Federal Tax Update Credits: 2
CTEC Provider #: 2071 CTEC Course ID: 2071-CE-0997 CTEC Federal Tax Update Credits: 2 Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the reasons to use a Section 1031 exchange
  • Determine the realized gain, recognized gain, and basis of property received
  • Identify the requirements for a deferred exchange
 


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