Reporting Sale of Rental Property FLEXCAST
Available Until
Your Desk
3.0 Credits
Member Price $147.00
Non-Member Price $169.00
Overview
Sale of commercial and residential rental property can pose many challenges for the tax preparer. Allocations between building, land, and furniture & equipment affect tax savings on the sale of rental property as do timing issues, prior rental vs home ownership periods, casualty or insurance recovery, original basis and basis from improvements plus allowed or allowable historical depreciation issues and depreciation recapture. We’ll review many issues related to the sale of rental property, residential and commercial, including installment sale and tax deferred exchange options.
Highlights
Rental Real Estate Sales. Grouping Election. Depreciation Recapture. Taxation of Prior Depreciation. Form 3115.
Prerequisites
None.
Designed For
CPAs, financial professionals, enrolled agents and attorneys.
Objectives
Report the sale of rental property accurately while maximizing tax savings for the sellers. Learn to accurately report the sale of rental property from determining the correct basis in the property to understanding available exclusions and other recapture and compliance matters related to the property. Develop tax planning and other strategies related to timing issues, land vs building allocation, correcting historical depreciation and more. Understand various sale options such as installment sale and tax deferred exchange and determine compliance matters and tax savings opportunities available.
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.
Leader(s):
Leader Bios
Jane Ryder, Western CPE
Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.
Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent.
Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit appeals, offers in compromise, and other compliance related issues.
Non-Member Price $169.00
Member Price $147.00