NEBRASKA SOCIETY OF
Certified Public Accountants
SERVING NEBRASKA AND ITS CPAS SINCE 1928
Taking Advantage of Installment Sales and Like-Kind Exchanges
Morning Course
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Online Registration Form
Date: October 23, 2020
Location: Live Webcast
Course Time: 8:30 AM to 12:00 PM Central Time
Registration Begins: 8:00 AM
Summary
When real property is sold for a gain, we always try to find ways to defer recognizing income so it won't be necessary to send a check to Uncle Sam. There are two provisions within the Internal Revenue Code that allow the taxpayer to defer recognition of immediate taxable gain in the year of sale: installment sales and like-kind exchanges. Knowing how and when to utilize these provisions makes the CPA very valuable to either their client or the entity they work for.
Objectives
* Learn when and how to utilize the provisions of IRC Section 457 in order to defer recognizing gain on the sale of real property via installment sales * Learn when and how to utilize the provisions of IRC Section 1031 in order to defer recognizing gain on the sale of real property via a like-kind exchange
Highlights
* How does the IRC define an installment sale under Section 457 * When can a taxpayer utilize the provisions of IRC Section 457 * When should a taxpayer utilize the provisions of an installment sale and when should it be avoided * How does the issue of a "dealer" vs. a "non-dealer" impact the use of the installment sale method * How to report an installment sale when related parties are involved * How to calculate an installment sale * How has the Tax Cuts and Jobs Act impacted the use of the Installment Sale Method * What is a like-kind exchange as defined by IRC Section 1031 * When can a taxpayer utilize the provisions of IRC Section 1031 * What types of real property are eligible for like-kind exchange treatment and what types are not * What is "boot" and how does it impact the like-kind exchange deferral * How to calculate a like-kind exchange including any taxable portion * How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges
Who Should Attend:CPAs who either represent or work for entities that own real property

Course Level: Intermediate
Prerequisites: A basic understanding of the provisions for recognizing gain or loss on the sale of real property
Course ID: ISL4
Discussion Leader:Surgent - Randy Newton
CPE Credit: 4
Additional Information: Instructions for the webcast will come a few days before the course date along with the electronic materials.
Fee:
Early Bird Registration:
$150 - Society Member
$200 - Nonmember
Within 30 Days of Course Date:
$300 - Society Member
$350 - Nonmember
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