Primary Residence Tax Transactions On-Demand Webinar
Some taxpayers will live in and use their primary residence solely as their personal property, but some choose to rent it out or convert part of their house into a home office. There are certain tax implications that come along with these changes including how to determine the gain and loss on the sale of a primary residence converted to rental property. This webinar will go through how to determine if the Section 121 exclusion is available to your client, how to calculate the correct amount that can be excluded and how to use a Section 1031 exchange on the depreciation recapture for a home office.
Upon completion of this course, you will be able to:
- Calculate the gain or loss on a primary residence converted to a rental property.
- Determine if capital gain on the sale of a residence can be excluded under §121.
- Calculate the available §121 exclusion on a previously rented primary residence.
- Review Form 8949 for the sale of a primary residence.
- Analyze Form 4797 for the sale of a primary residence with business use.
- Utilize a §1031 exchange for a primary residence with a home office.
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Attendee Top Questions. CPE is issued after exam is successfully completed.
Randy Lawshé, EA