- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 2.0
This webinar will provide a practical, knowledgeable discussion of how and when taxpayers should consider implementing a “tax free” like-kind exchange under Code § 1031.
Taxpayers for many years have used this extremely popular Code provision to reduce or eliminate entirely the tax liabilities on a sale of real estate, by re-investing the net sale proceeds into new qualifying investments. Obviously, the ability to avoid taxes that would otherwise be due on sale (often 30% or more of the proceeds) and reinvest this amount in new property is a BIG incentive to learn how to navigate this important but often complicated area of law.
This webinar will review the basic rules and identify all the necessary steps to implement successfully a like-kind exchange of real estate, including both a “deferred” or “Starker” exchange, where a relinquished property is sold and the proceeds are used, through a qualified intermediary, to aquire replacement property later in time; and also a so-called “reverse exchange,” where the replacement property is actually purchased before the relinquished property is sold. In addition, the webinar will explore the various opportunities beyond real estate where a tax-free exchange is possible, including exchanges of automobiles, airplanes, intellectual property, art works and even wine collections.
THIS WEBINAR IS NOT ELIGIBLE FOR CTEC CREDIT.
Instructor: Joseph Darby III, Esq.
Instructor assignments are fluid and subject to change.
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