Taxation of Property Transactions - Tax Staff Essentials

Overview

Professionals learn about business property-related timing issues and planning opportunities that can lead to significant tax savings.

A fundamental understanding of the taxation of business property transactions is essential to any tax practice. This course prepares tax professionals to handle the tax effects of common property transactions, including like-kind exchanges and involuntary conversions. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings.

Course Instructor: Shelley Rhoades-Catanach

Highlights

Sections 1231, 1245, 1250

Depreciation recapture

Capital gains and losses

Non-recognition transactions

Prerequisites

Basic knowledge of property transactions and taxation

Designed For

Tax staff and senior associates in public accounting

Tax professionals in industry

Objectives

Calculate gain or loss realized and recognized on business property dispositions.
Identify the tax treatment of net Section 1231 gains and net Section 1231 losses.
Determine the application of the Medicare contribution tax to property dispositions.
Recall rules for depreciation subject to recapture when property was acquired in a nontaxable exchange transaction or by gift or bequest.
Recall the requirements for deferring realized gain on an involuntary conversion.

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.