2013-2014 Real Estate & Investment Federal Tax Update (Currently Unavailable)

Author: Vern H.

Vern discusses the current Tax Codes, cases and rules affecting real estate taxation including the new passive loss grouping rules.

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

Publication Date: November 2013

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)
• Talking about how one clever taxpayer purchased a home for a son and still qualified it for a like-kind exchange, and how another clever taxpayer converted a personal residence into like-kind exchange business property to defer the gain
• Examining the new passive loss grouping rules and some nasty passive loss cases, as well as the real estate professional exception and that real estate salespersons can use the brokerage exception
• Discussing how the recharacterization rules impact self-rental property
• Understanding how the dealer v. investor rules prevent the conversion of capital losses into ordinary dealer losses
• And closing with a primer on the tax ramifications of a foreclosure or repossession, including analyzing the cancellation of debt calculation and problems with short sales

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