CPE Credits: 2
Course Level: Intermediate
Prerequisites: Basic knowledge of income taxation
Advance Preparation: None
Fees: $49 for Members and $60 for Nonmembers
Summary
Reporting the sale of property may appear straight forward at first; however, often there are variables that can affect the tax treatment of these transactions. This webinar will concentrate on some of the more difficult concepts involving asset sales that practitioners are not typically involved with on a daily basis, such as day traders, property ”flips”, timber sales and demutualizations.
Objectives:
Upon completion of this webinar, you will be able to:
- Define a day trader and how his or her transactions should be reported.
- Report sales of property when your client "flips" real estate.
- Determine if ordinary income vs. capital gains treatment applies for asset sales.
- Identify the tax treatment of selling timber and granting property easements.
- Determine the impact of insurance company demutuallization on the gain or loss from the sale of the insurance company's stock.
Presenter: Lawrence Zimbler, MST, EA