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Taxation of Property Transactions - Tax Staff Essentials
Professionals learn about business property-related timing issues and planning opportunities that can lead to significant tax savings.
Format
Webcast
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
4
Instructor
Shelley Rhoades-Catanach
Availability
Product Number
VTSETPT240605
A fundamental understanding of the taxation of business property transactions is essential to any tax practice. This course prepares tax professionals to handle the tax effects of common property transactions, including like-kind exchanges and involuntary conversions. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings.
Key Topics
- Sections 1231, 1245, 1250
- Depreciation recapture
- Capital gains and losses
- Non-recognition transactions
Learning Outcomes
- Calculate gain or loss realized and recognized on business property dispositions.
- Identify the tax treatment of net Section 1231 gains and net Section 1231 losses.
- Determine the application of the Medicare contribution tax to property dispositions.
- Recall rules for depreciation subject to recapture when property was acquired in a nontaxable exchange transaction or by gift or bequest.
- Recall the requirements for deferring realized gain on an involuntary conversion.
Who Will Benefit
- Tax staff and senior associates in public accounting
- Tax professionals in industry
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2 to 5 registrants
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