Taxation specific to the real estate industry is replete with special tax laws that are complex and associated with the real estate industry. The current tax laws and regulations may determine the profitability when acquiring and disposing of real property. Special tax laws have been promulgated to mitigate the tax burdens, which in turn may determine returns on investment in real property. The partnership entity is the most commonly used form of ownership when acquiring or constructing real property. The seminar explores how partnership taxation applies in many areas of the real estate industry.
Course ID: 2
Real Estate Partnerships: Getting In, Getting Out, Getting Taxed
- Plan and comply with taxation provisions affecting partnerships,LLCs, & corporations.
- Recognize opportunities to mitigate tax burdens
- Work with clients and associates to structure real estate deals providing a favorable tax status.
- To effectuate a successful Section 1031 Tax Deferred Exchange
- The tax treatment of cancellation of indebtedness issues
- Strategies for exiting partners
MAJOR TOPICS? Disposition of real property, including Section 1031 exchanges, contributions of real property and involuntary conversions ? The tax implications of abandonment of a partnership interest and deduction for a worthless partnership interest ? Recourse and nonrecourse debt allocations ? Cancellation of indebtedness tax issues, covering Section 108 ,including insolvency and bankruptcy relief provisions ? Dealer Vs Investor substance issues and tax effects ? Valuation of real estate partnership interests for estate planning and gains on disposition of a partnership interest ? Tax treatment of lease acquisition and cancellation costs. Explore the complexities of Section 467 lease arrangements. ? Passive activity, tax basis and at-risk basis limitations ? Planning techniques to reduce taxes upon disposition of real property
DESIGNED FORCPAs in public practice or industry that practice in the real estate industry
FIELD OF STUDY