Related Party Issues & Transactions FLEXCAST

Overview

Related party rules are factors that often affect characteristics of income and deductions like the timing or character and may even prevent losses and deductions completely. This class will provide a basic overview of the assortment of Internal Revenue Code provisions that make up related parties and rules applicable to these issues. Over the years Congress has instituted various measures to safeguard from related party manipulations. The effect of ascertaining certain taxpayers as “related” may cause a transaction to achieve federal income tax consequences substantially different than a transaction accomplished by parties that are not related. Because the core definition of “related parties,” as found in IRC Section 267, is frequently cross-referenced by other sections throughout the Internal Revenue Code, an analysis of this definition is paramount in determining the impact of other sections, as well

Highlights

Related Parties under IRC Section 267. Related Parties under IRC Section 707. Related Parties under IRC Section 1239.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Analyze IRC Section 267. Constructive Ownership of Stock under Section 318. Related Party Loans. Section 707 and related partnership issues. Section 1239 gain from depreciable property. Matching Expense Deductions. Sale or Property at a Loss. Section 179 Issues. Examine Installment sale rules with related parties. Section 280A rental issues.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.