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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Real Property - Finance

Date & Time
  • event Date

    Tuesday, April 27, 2021

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will examine the impact of tax reform on like-kind exchanges under IRC Section 1031 with a particular focus on what now qualifies as "real property" under new regulations recently released by the IRS. The panel will discuss the requirements for like-kind exchanges to qualify for tax-deferred treatment and provide best practices for structuring transactions to avoid adverse tax consequences after closing.

Faculty

Marie C. Flavin
Senior Vice President/Northeast Regional Manager
Investment Property Exchange Services, Inc

Ms. Flavin is a member of the New York and Connecticut Bars, and has been practicing real estate law since 1992. She has been specializing in 1031 exchanges with IPX since 1999. In her position as Northeast Regional Manager of Investment Property Exchange Services, Ms. Flavin frequently lectures and writes articles on IRC § 1031 tax deferred exchanges. She teaches Continuing Legal Education and Continuing Professional Education to Attorneys and CPA’s. Ms. Flavin is an adjunct professor at the University of New Haven where she teaches Business Law. She received her B.A. from St. John’s University and her J.D. from St. John’s School of Law in 1992. 

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Bradley T. Borden
Professor of Law
Brooklyn Law School

Professor Borden’s research, scholarship, and teaching focus on taxation of real property transactions and flow-through entities (including tax partnerships, REITs, and REMICs). He teaches Federal Income Taxation, Partnership Taxation, Taxation of Real Estate Transactions, and Unincorporated Business Organizations, and he is affiliated with the Dennis J. Block Center for the Study of International Business Law. His work on flow-through and transactional tax theory appears in articles published in law reviews including Baylor Law Review, University of Cincinnati Law Review, Florida Law Review, Georgia Law Review, Houston Law Review, Iowa Law Review, Tax Lawyer, and Virginia Tax Review, among others. His articles also frequently appear in leading national tax journals including Journal of Taxation, Journal of Taxation of Investments, Real Estate Taxation, and Tax Notes.

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Description

Failure to observe the Section 1031 rules will cause a like-kind exchange to become a taxable event. Advisers must correctly structure Section 1031 exchanges or risk unraveling exchanges, amending tax returns, or exposing clients to unexpected tax obligations.

From defining the exchange facilitator's role in complex structures such as forward or reverse exchanges to navigating related-party rules, various techniques and structures help ensure compliance with Section 1031 and tax-free treatment for the transaction.

The Tax Cuts and Jobs Act limited the application of 1031 to exchanges of real property, with the effect that certain assets were no longer eligible for 1031 treatment. In December 2020, the IRS issued final regulations that provide clarity regarding assets such as oil and gas pipelines, inherently permanent structures, and tangible assets connected with real property, as well as interests in or contract rights relating to real property.

Listen as our expert panel reviews and offers their insights into Section 1031 developments and the latest planning techniques. The panel will provide attendees with best practices for documenting a Section 1031 exchange and avoiding unwanted tax consequences.

Outline

  1. The framework of 1031 exchanges
  2. Reverse exchanges
  3. Forward exchanges
  4. Tenants in common and DSTs
  5. Section 1031(f) related-party rule
  6. Improvements exchanges
  7. Drop-and-swap strategies
  8. Calculating 199A business deduction in conjunction with an exchange
  9. What constitutes "real property" under the new IRS regulations

Benefits

The panel will review these and other high priority issues:

  • What is the role, and what are the restrictions of, the exchange facilitator?
  • How can counsel help clients avoid the 1031(f) restrictions in related-party exchanges?
  • Is there a "holding-period requirement" under Section 1031?
  • What are the requirements for a reverse exchange under Section 1031?
  • What are viable structures for improvement exchanges?
  • What are the current drop-and-swap practices?