Property Transaction Taxation
This session highlights the current tax rules associated with capital gains and losses because of the change in the COLA calculation from CPE-U to C-CPI-U. In addition, we look at the basis determinations resulting from the different ways to acquire property for business or personal use. Gifts, for example, received by an individual result in some challenges when determining a person’s gains or losses, which are discussed and illustrated in this webinar. The gain or loss on the sale or transfer of business assets can result in 1231, 1245, 1239, 267, 291, and 1250 recapture rules.Finally, the involuntary conversion rules for property, residences, and livestock are discussed.Areas Covered Discuss the tax rules associated with capital gains and losses calculationsReview the six basis determination rules for property Illustrate the capital gains and loss calculations for the different property transactionsAn in-depth discussion of the recapture tax rulesDiscuss the tax rules associated with related party transactionsWho Should AttendTax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants.Why Should You Attend The sale or exchange of an asset results in a gain or loss from the transaction. This gain or loss from a property transaction may be capital or ordinary depending on the situation. In this webinar, we introduce the underlying tax treatment for 1245 and 1250 property transactions. Then we discuss and illustrate the determination of the property’s basis, and the capital gains and loss calculations associated with the acquisition and disposition of depreciable property, real property, converted property, and special property transactions.
Single
This session highlights the current tax rules associated with capital gains and losses because of the change in the COLA calculation from CPE-U to C-CPI-U. In addition, we look at the basis determinations resulting from the different ways to acquire property for business or personal use. Gifts, for example, received by an individual result in some challenges when determining a person’s gains or losses, which are discussed and illustrated in this webinar. The gain or loss on the sale or transfer of business assets can result in 1231, 1245, 1239, 267, 291, and 1250 recapture rules.
Finally, the involuntary conversion rules for property, residences, and livestock are discussed.
Areas Covered
- Discuss the tax rules associated with capital gains and losses calculations
- Review the six basis determination rules for property
- Illustrate the capital gains and loss calculations for the different property transactions
- An in-depth discussion of the recapture tax rules
- Discuss the tax rules associated with related party transactions
Who Should Attend
Tax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants.
Why Should You Attend
The sale or exchange of an asset results in a gain or loss from the transaction. This gain or loss from a property transaction may be capital or ordinary depending on the situation. In this webinar, we introduce the underlying tax treatment for 1245 and 1250 property transactions. Then we discuss and illustrate the determination of the property’s basis, and the capital gains and loss calculations associated with the acquisition and disposition of depreciable property, real property, converted property, and special property transactions.