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Property Dispositions

Instructional MethodAdvanced PreparationProgram PrerequisitesField Of Study Interactive Self Study NONE General Understanding of Federal Income Taxation Taxes Experience LevelCourse IDCPE CreditsAuthor Basic to Intermediate DS-230 2 Danny Santucci Property Dispositions Course Descrip ...Read more
  • Description
Instructional Method Advanced Preparation Program Prerequisites Field Of Study
Interactive Self Study NONE General Understanding of Federal Income Taxation Taxes
Experience Level Course ID CPE Credits Author
Basic to Intermediate DS-230 2 Danny Santucci

Property Dispositions

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.

Who Should Attend: CPAs, Enrolled Agents, Registered Tax Preparer, and all other Tax Professionals

Topics Covered: 

    • Capital gains
    • Home sales
    • Installment method
    • Contingent payments or price
    • Section 1031 like-kind exchanges
    • Delayed exchange regulations
    • Actual & constructive receipt rule
    • Foreclosure
    • Repossession
    • Condemnations

Learning Objectives: 

1. Identify capital gains rates with applicable assets using the "basket" approach, cite the requirements of the home sale exclusion, and determine gain under the installment method noting the application of the unstated interest rules.
2. Specify the types of property that qualify for a like-kind exchange and recognize the methods of identifying such property in a delayed exchange including the mechanics for such an exchange.
3. 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.
4. 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, and specify the types of entities that qualify for exclusion from at-risk limits noting the impact of recourse and nonrecourse financing.


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