CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Property Dispositions

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

Tax reform provisions have frequently changed the tax on profits realized from the disposition of real estate. This has forced investors to seek “escape hatches” from fluctuating capital gains taxes. Tax-deferred exchanges permit the disposition of property often with the taxpayer receiving significant cash but without the payment of any tax. Functionally, an exchange is a “bridge” over the normally taxable event of moving from one property to another. This course alerts the practitioner to the different planning opportunities that surround exchanging and also identifies the tax consequences of home sales, foreclosure, repossession, and other real property dispositions. Additional topics of interest include involuntary conversions and at-risk limits.

Learning Objectives

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

Chapter 1

  • Identify capital gains rates with applicable assets using the “basket” approach

Chapter 2

  • Determine gain under the installment method noting the application of the unstated interest rules

Chapter 3

  • Specify the types of property that qualify for a like-kind exchange
  • Recognize the methods of identifying such property in a delayed exchange including the mechanics for such an exchange.

Chapter 4

  • Recognize the differences between recourse and nonrecourse indebtedness identifying their impact on foreclosures
  • Determine how various types of property affect the repossession rules of §1038 including basis and gain or loss for both installment and non-installment method sales.

Chapter 5

  • Determine how easements affect condemnations and how to report gain or loss associated with involuntary conversions
  • Cite the types of payments included in a condemnation award.

Chapter 6

  • Specify the types of entities that qualify for exclusion from at-risk limits noting the impact of recourse and nonrecourse financing.

Course Specifics

Course ID
8212744
Revision Date
January 30, 2021
Number of Pages
70
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01775-21-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1563
CTEC Federal Tax Law Credits: 2

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Property Dispositions

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

Tax reform provisions have frequently changed the tax on profits realized from the disposition of real estate. This has forced investors to seek “escape hatches” from fluctuating capital gains taxes. Tax-deferred exchanges permit the disposition of property often with the taxpayer receiving significant cash but without the payment of any tax. Functionally, an exchange is a “bridge” over the normally taxable event of moving from one property to another. This course alerts the practitioner to the different planning opportunities that surround exchanging and also identifies the tax consequences of home sales, foreclosure, repossession, and other real property dispositions. Additional topics of interest include involuntary conversions and at-risk limits.

Learning Objectives

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

Chapter 1

  • Identify capital gains rates with applicable assets using the “basket” approach

Chapter 2

  • Determine gain under the installment method noting the application of the unstated interest rules

Chapter 3

  • Specify the types of property that qualify for a like-kind exchange
  • Recognize the methods of identifying such property in a delayed exchange including the mechanics for such an exchange.

Chapter 4

  • Recognize the differences between recourse and nonrecourse indebtedness identifying their impact on foreclosures
  • Determine how various types of property affect the repossession rules of §1038 including basis and gain or loss for both installment and non-installment method sales.

Chapter 5

  • Determine how easements affect condemnations and how to report gain or loss associated with involuntary conversions
  • Cite the types of payments included in a condemnation award.

Chapter 6

  • Specify the types of entities that qualify for exclusion from at-risk limits noting the impact of recourse and nonrecourse financing.

Course Specifics

Course ID
8212744
Revision Date
January 30, 2021
Number of Pages
70
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01775-21-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1563
CTEC Federal Tax Law Credits: 2

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Property Dispositions

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

Tax reform provisions have frequently changed the tax on profits realized from the disposition of real estate. This has forced investors to seek “escape hatches” from fluctuating capital gains taxes. Tax-deferred exchanges permit the disposition of property often with the taxpayer receiving significant cash but without the payment of any tax. Functionally, an exchange is a “bridge” over the normally taxable event of moving from one property to another. This course alerts the practitioner to the different planning opportunities that surround exchanging and also identifies the tax consequences of home sales, foreclosure, repossession, and other real property dispositions. Additional topics of interest include involuntary conversions and at-risk limits.

$58.00$78.00

Clear