Real Estate Taxation - Tax Staff Essentials
Learn about passive activity limitations, like kind exchanges, involuntary conversions, Section 1237, and other real estate-related topics, so you can avoid mistakes related to these provisions.
Format
Online
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
4.5
Author(s)
Wendy E. Kravit, Brian R. Greenstein
Availability
1 year
Product Number
158294
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Do you find real estate-related topics such as passive activity limitations, like kind exchanges, involuntary conversions, and Section 1237 complicated?
Learn about these common problem areas in this CPE course so you can avoid mistakes related to these provisions and ensure that your clients receive the most current tax planning and saving strategies for their tax plans.
Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.
- Experienced accountants
- Private industry managers
- Passive losses
- At risk rules
- Like kind exchanges
- Involuntary exchanges
- Expensing versus capitalization
- Capital vs. Ordinary Income
- Calculate the limitations on deducting passive activity losses and the at-risk limitations on deducting losses on a current year's tax return.
- Distinguish between a passive activity that would be subject to the passive loss rules and an active activity that would not be subject to passive activity rules.
- Identify which property qualifies for Section 1231 treatment.
- Recognize when an involuntary conversion or like-kind exchange may be used to defer tax recognitions.
- Calculate gains and losses from property transactions.
- Distinguish between different recapture provisions.
- Determine when the rules regarding the subdivision of real estate under IRC Section 1237 apply to a transaction.
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