2012-2013 Real Estate & Investment Federal Tax Update (Currently Unavailable)

Author: Vern H.

In this course, Vern discusses the current Tax Codes, cases and rules affecting real estate taxation.

Follow along with Vern's 64 page manual containing hyperlinks to important rules and regs, included with purchase.

Course Sponsor:Vern Hoven Tax Seminars:
NASBA Sponsor Number: 108250/QAS Sponsor Number: 041

Designed For
All tax practitioners, both public and industry, who need the latest - and necessary - tax changes for their clients.

Topics Covered

• Studying how, and why, the IRS has changed Schedule E (numerous audit traps now exist for the unwary).
• Analyzing a primer on the tax ramifications of a foreclosure or repossession including analyzing the cancellation of debt calculation and problems with short sales.
• Examining the new passive loss grouping rules and some nasty passive loss cases, including the real estate professional exception, and how to avoid these foul results.
• Discussing how the recharacterization rules impact self-rental property.
• Reviewing how rental expenses may be denied while renovating a rental.
• Understanding how the dealer v. investor rules prevent the conversion of capital losses into ordinary dealer losses.
• And closing with a discussion on like-kind exchanges, and how one clever taxpayer converted a personal residence into business property in eight months to defer the gain.

Learning Objectives

• Recognize key tax changes effective in 2012, affecting real estate & investment taxation.
• Identify numerous tax issues and provisions impacting your clients' or employer's tax returns.
• Apply various tax rates and computations to scenarios just like those you see in your office, to better prepare you for the upcoming tax season.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (3 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None