Surgent's Taking Advantage of Installment Sales and Like-Kind Exchanges (ISL4)

Course Details

Date

Monday, October 26, 2020

7:00am – 10:30am

Field of Study

Taxation

Course Number

SU0359

CPE Credit

4.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

Surgent McCoy CPE, LLC

Prerequisites

A basic understanding of the provisions for recognizing gain or loss on the sale of real property

Description

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.

Highlights

  • How does the IRC define an installment sale under Section 453?
  • When can a taxpayer utilize the provisions of IRC Section 453?
  • 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

Objectives

  • Learn when and how to utilize the provisions of IRC Section 453 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

Designed For

CPAs who either represent or work for entities that own real property

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$139.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$199.00
Your Price $199.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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