1031 Exchanges: Identifying Property, Calculating Depreciation, Completing Form 8824, Tax Reform Changes

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A


Conducted on Tuesday, February 18, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide an overview of Section 1031, like-kind exchanges, 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, how to complete Form 8824 and the effect of tax reform on these tax-saving devices.

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.

Recent tax reform changed the definition of qualified property. Personal property is no longer eligible for this deferred treatment, though the 45-day identification and 180-day exchange deadlines remain.

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, the essential use of a qualified intermediary, and recent tax reform changes.

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Outline

  1. Introduction and types of 1031 exchanges
  2. Tax reform changes
  3. Identifying replacement property
  4. Qualified intermediaries and avoiding constructive receipt
  5. Critical dates
  6. Boot and partial exchanges
  7. Depreciation methods
  8. Reporting: Form 8824

Benefits

The panel will review these and other notable issues:

  • The effect of recent tax reform on Section 1031 exchanges
  • Taxation of boot received in a like-kind exchange
  • 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

Brown, Craig
Craig Brown

Vice President and Regional Manager
Investment Property Exchange Services

Mr. Brown has overseen the facilitation of more than 5,000 real and personal property exchanges with total values in...  |  Read More

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