Basic knowledge of tax planning.

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Course Description

The real estate market is volatile - to say the least - and Congress continues to tweak tax rules surrounding ownership and sales of real property. In Today's Real Estate Tax Issues and Strategies, Karen Brosi will review a medley of complicated real estate related topics, including several of the most potentially troublesome areas. You'll also take home valuable planning strategies for you and your realty clients.

Course highlights include:

  • Rental real estate and passive activity rules
  • Real estate professional issues
  • Vacation homes vs. vacation rentals
  • Sec. 1031 exchanges
  • Reverse Starker exchanges
  • Business use of home
  • Sale of personal residence update
  • Foreclosure and cancellation of debt


Karen Brosi, CFP, EA

Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips.

Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life presentations pinpoint critical federal and state tax areas, teaching tax professionals what they need to know to optimally assist their clients. Karen was the recipient of the California CPA Education Foundation 2012-2013 Outstanding Webcast Instructor award.

Course Specifics

Jun 10, 2017
Basic knowledge of tax planning.

Compliance Information

IRS Provider #: OMYXB
IRS Course ID: 0MYXB-T-01160-17-S
IRS Federal Tax Law Credits: 10
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1114
CTEC Federal Tax Law Credits: 10
Qualifies for CA Fraud: No

Learning Objectives

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

Chapter 1

  • Identify current tax issues impacting real estate.
  • Cite how to develop a tax plan for use by a client when financing a home purchase for themselves or for their children.
  • Identify the tax rules involving the sale of a principal residence.
  • Identify potential traps and planning opportunities relating to divorces, home office deductions, and vacation homes.

Chapter 2

  • Identify the tax results when a borrower loses personal, business, or investment property by foreclosure or short sale.
  • Cite when the §108 exception to the cancellation of indebtedness income rule is applicable.
  • Discuss the rules regarding cancellation of acquisition indebtedness on a principal residence.

Chapter 3

  • Identify how to treat a passive activity on a tax return and identify the special tax laws related to rental real estate.
  • Cite when a taxpayer qualifies as a real estate professional and whether the aggregation election is appropriate given the taxpayer’s circumstances.

Chapter 4

  • Identify the types of income subject to the 3.8% Medicare tax.
  • Analyze the tax consequences of renting property through Airbnb and other similar online services.

Chapter 5

  • Analyze the current depreciation rules, including the final regulations regarding the capitalization of tangible assets and the elections under the final repair regulations.

Chapter 6

  • Cite the tax benefits available using the installment sale method of reporting gain and specify when an election out of the installment method would be advantageous to a seller.

Chapter 7

  • Cite the reasons for and against structuring a like-kind exchange under §1031 and identify qualifying properties for purposes of §1031 exchanges.
  • Identify the mechanics of deferred exchanges.
  • Identify the tax issues arising in a related party exchange.

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Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

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