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Overview

8.0 Credits
ONLINE

Take a 'deep dive' into real estate tax-related for the mid-level practitioner moving into this complex area. Deepen your understanding of the complex considerations and strategies individuals must navigate in acquiring, holding, managing, constructing and disposing of real estate. Discuss in detail the impact the Tax Cuts and Jobs Act continues to have on the real estate industry and the impact of COVID-19.

Objectives

  •     Learn how to determine the taxpayer's basis in the property
  •     Learn the rules of real estate development
  •     Learn how the IRC taxes rental operations
  •     Learn how to calculate gain or loss on the sale of real estate
  •     Understand the complex rules of depreciation, bonus depreciation, and Section 179
  •     Understand when a taxpayer can take advantage of the QBI deduction under Section199A related to rental real estate
  •     Understand the at-risk rules
  •     Understand the passive activity rules
  •     Understand the like-kind exchange rules

Major Topics

  •     Installment sales
  •     Rental operations
  •     Depreciation and recapture
  •     Determination of basis
  •     Passive activity losses
  •     At-risk rules
  •     The qualified business income (QBI) deduction as it relates to rental real estate
  •     Like-kind exchanges
  •     Calculation of gain or loss on sale of real estate

Prerequisite

Some experience preparing tax returns involving real estate holdings and transactions
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