Mastering the 1031 Exchange: Strategies for Tax-Advantaged Real Estate Transactions

EVENT OBJECTIVE

-Identifying requirements for a like-kind exchange: Gain a comprehensive understanding of the specific criteria that must be met for a transaction to qualify as a tax-deferred exchange. Learn how to distinguish between qualifying and non-qualifying properties, and explore strategies for structuring successful exchanges.
-Calculating realized and recognized gain from a like-kind exchange: Delve into the intricacies of determining the realized and recognized gain in a §1031 exchange. We will examine the calculation methods, explore common scenarios, and equip you with the skills to accurately assess the financial impact of these transactions.
-Calculating the basis of property acquired in a like-kind exchange: Learn how to determine the basis of property acquired through a tax-deferred exchange. -We will explore the various adjustments and considerations involved, ensuring you can guide your clients in accurately assessing their tax positions and potential future implications.
-Completing Form 8824, Like-Kind Exchanges: Navigate the complexities of Form 8824, the essential document for reporting like-kind exchanges. We will meticulously analyze each line of the form, highlighting potential challenges and common pitfalls. By the end of this course, you will feel confident in your ability to complete Form 8824 accurately and efficiently.