1031 Like-Kind-Exchanges

2 CE Topic
Written By Natalie Kolodij

Summary:


1031 Exchange is a provision allowing taxpayers to sell an appreciated real property asset, and defer the gain by purchasing a qualifying replacement asset. With strict timelines, requirements, and reporting items this strategy requires a comprehensive understanding by the tax preparer. In this class we will cover the basics of 1031 like-kind-exchange, the reporting on form 8824, and understanding the basis and depreciation outcomes relating to the exchange.



Objectives

Upon completion of this course, you will be able to:

  • Calculate the deferred gain deferred via a like-kind-exchange

  • Identify qualifying assets

  • Calculate the timeline requirements for the exchange

  • Complete form 8824

  • Report the depreciable basis on the replacement asset

Details:

Duration: 100 Minutes

CE Credits: 2 CE

Level: Beginner

Natalie Kolodij
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