1031 Exchanges: Deferred Exchanges, Identifying Property, Calculating Depreciation, Completing Form 8824
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Tax Preparer
- event Date
Monday, May 5, 2025
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
110 minutes
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
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.
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.
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses, including all aspects of tax compliance for partnerships and corporations. He advises clients with regard to the structure and tax consequences of new business ventures, and assists with restructuring existing businesses for increased tax efficiency. Prior to joining his firm, he was with a “Big 4” accounting firm, working closely with large, multinational real estate investment companies.
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.
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.
- Introduction and types of 1031 exchanges
- Identifying replacement property
- Qualified intermediaries and avoiding constructive receipt
- Critical dates
- Boot and partial exchanges
- Depreciation methods
- Reporting: Form 8824
- Top ten things that can go wrong
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
- Completing Form 8824 for LKEs
Learning Objectives
After completing this course, you will be able to:
- Determine the tax consequences of a 1031 exchange
- Identify appropriate depreciation methods for property received
- Decide when replacement property must be identified
- Ascertain eligibility of replacement property
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.
Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
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