Gain a practical understanding of the various complex tax laws dealing with sale, disposal, or exchange of property. This course includes analyses of the rules dealing with like-kind exchanges, and includes involuntary conversions. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings.
Apply proper treatment of involuntary conversions. – Explain the deferral of realized gain or loss on a like-kind property exchange. – Determine the amount of gain or loss on the sale of property. – Determine the character of recognized gain or loss on the disposition of business property. – Implement comprehensive property tax strategies to minimize taxes.
· IRC sections 1231, 1245, 1250
· Depreciation recapture
· Capital gains and losses
· Non-recognition transactions
Tax staff and senior associates
Basic knowledge of property transactions and taxation