Like-Kind Exchanges 

Fees: $65 for Members and $89 for Nonmembers

Summary
This course is designed to help tax professional recognize qualifications and tax reporting of like-kind exchanges under §1031. The material explores the basic tax and nontax treatment of like-kind exchanges along with various related transactions that may apply to the like-kind exchange. 

Table of Contents

Objectives
Upon completion of this course, you will be able to: 

• Understand the rules and regulations of §1031 along with terminology used during an exchange.
• Recognize eligible property for an exchange.
• Consider relevant situations which qualify for like-kind exchange treatment.
• Address exchange problem areas such as holding periods, related parties and intent of property ownership.
• Review safe harbors used to avoid disallowance of like-kind exchange treatment.
• Understand how debt affects exchange transactions.
• Explore relevant court cases involving allowed and disallowed exchanges and circumstances that lead to the Court’s decided.
• Calculate the basis of property received in a like-kind exchange transaction.
• Determine the difference between the basis calculation for like-kind property and non-like-kind property received in an exchange.
• Review special rules for depreciation of assets received and terms used during and after an exchange.
• Understand excess basis, exchange basis, and how to elect out of this treatment.
• Apply the luxury auto limits for depreciation of exchanged vehicles under §1031.
• Determine if the exchange qualifies and which transactions do not qualify such as a sham arrangement to avoid tax for example.
• Understand the tax terms used during the exchange in relation to who is the exchanger and eligible to receive the exchanged property.
• Review §1245 and §1250 recapture when gain is recognized in an exchange.
• Explore other code sections that apply to the exchange such as §121 exclusion of gain on the sale of a principal residence.
• Identify how mixed use property is treated and whether the like-kind exchange safe harbor can be applied.
• Calculate gain and basis for multiple property exchanges.
• Review and understand the four parts of Form 8824, Like-Kind Exchanges.
• Complete Form 8824 for basic like-kind exchanges.
• Explore additional forms (Form 4797, if applicable) needed to complete the return.
• Apply both §§121 and 1031 to the same transaction.

For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.

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