Taxation specific to the real estate industry is replete with special and complex tax laws. The current tax laws and regulations may determine the profitability when acquiring and disposing of real property. This seminar explores how partnership taxation applies in many areas of the real estate industry.
DESIGNED FOR
CPAs in public practice or industry that practice in the real estate industry.
BENEFITS
- Plan and comply with taxation provisions affecting partnerships, LLCs & corporations
- Recognize opportunities to mitigate tax burdens
- Work with clients and associates to structure real estate deals providing a favorable tax status
- Effectuate a successful Section 1031 Tax Deferred Exchange
- The tax treatment of cancellation of indebtedness issues
- Strategies for exiting partners
HIGHLIGHTS
- Disposition of real property, including Section 1031 exchanges, contributions of real property and involuntary conversions
- The tax implications of abandonment of a partnership interest and deduction for a worthless partnership interest
- § Recourse and nonrecourse debt allocations
- Cancellation of indebtedness tax issues
- Dealer vs. investor substance issues and tax effects
- Valuation of real estate partnership interests for estate planning and gains on disposition of a partnership interest
- Tax treatment of lease acquisition and cancellation costs
- Explore the complexities of Section 467 lease arrangements
- Passive activity, tax basis and at-risk basis limitations
- Planning techniques to reduce taxes upon disposition of real property
COURSE LEVEL
Intermediate
PREREQUISITES
None
ADVANCE PREPARATION
None