1031 Exchanges: Deferred Exchanges, Identifying Property, Calculating Depreciation, Completing Form 8824, and the Top Ten Things that Can Go Wrong

A live 110-minute CPE webinar with interactive Q&A

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Tuesday, February 21, 2023

1:00pm-2:50pm EST, 10:00am-11:50am PST

or call 1-800-926-7926

This course will provide an overview of Section 1031, like-kind exchanges (LKEs), so that both new and seasoned tax professionals can better advise clients participating in these transactions. The panel will provide an overview of the components of LKEs, including defining qualifying property, understanding critical dates, calculating the basis of property acquired, depreciating replacement property and how to complete Form 8824.

Description

A Section 1031 exchange is one of the most potent and beneficial tax-savings tools available to all taxpayers. Section 1031 allows a taxpayer to defer and possibly avoid the tax on the sale of certain property by buying other property. Although conceptually simple, making sure an exchange meets the requirements is critical. Taking cash out or purchasing lower-valued replacement property can cause recognition of some or all of the gain.

Listen as our panel of experts explains the types of Section 1031 exchanges, how to structure a compliant transaction, when and how partial tax is calculated on an LKE, and the essential use of a qualified intermediary.

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Outline

  1. Introduction and types of 1031 exchanges
  2. Identifying replacement property
  3. Qualified intermediaries and avoiding constructive receipt
  4. Critical dates
  5. Boot and partial exchanges
  6. Depreciation methods
  7. Reporting: Form 8824
  8. Top Ten Things That Can Go Wrong

Benefits

The panel will review these and other notable issues:

  • Taxation of boot received in an LKE
  • Meeting the time deadlines for Section 1031 exchanges
  • Depreciation treatment of property received in exchange

Faculty

Borden, Bradley
Professor Bradley T. (Brad) Borden

Professor of Law
Brooklyn Law School

Professor Borden’s research, scholarship, and teaching focus on taxation of real property transactions and...  |  Read More

Flavin, Marie
Marie C. Flavin

Senior Vice President/Northeast Regional Manager
Investment Property Exchange Services

Ms. Flavin is a member of the New York and Connecticut Bars, and has been practicing real estate law since 1992. She...  |  Read More

Hurwitz, Michael
Michael W. Hurwitz, CPA, MST

Partner
Withum Smith+Brown

Mr. Hurwitz brings more than 34 years of experience and a versatile set of skills acquired through working for both...  |  Read More

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