Unlock the Mystery of Completing Form 8824, Like-Kind Exchanges
If you have clients with a business that includes vehicles, it is likely that they have been a party to a like-kind exchange. In this webinar, you will learn the rules for like-kind exchanges and how to complete Form 8824, Like-Kind Exchanges (and section 1043 conflict-of-interest sales).
Like-kind exchanges are business transactions where a client exchanges property for similar property. When dealing with business clients who are or have been a party to a like-kind exchange, it’s important for you to understand how business assets are treated in the exchange and how to properly report it. This webinar reviews the basic like-kind exchange rules for business assets such as vehicles and both residential and nonresidential rentals. You’ll also be walked through how to complete Form 8824.
Upon completion of this course, you will be able to:
- Describe the requirements of a like-kind exchange to a client at the tax desk.
- Outline the treatment of vehicles in a business like-kind exchange.
- Distinguish the treatment of residential and nonresidential rentals in a business like-kind exchange.
- Calculate realized gain from like-kind exchanges.
- Calculate basis in property acquired in a like-kind exchange.
- Correctly complete Form 8824, Like-Kind Exchanges (and section 1043 conflict-of-interest sales).
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Q&A transcript. CPE is issued after exam is successfully completed.
Jaye Tritz, EA, CFP®