This authoritative course covers critical aspects, common problem areas and strategies for successful Sec. 1031 exchanges, from deferred exchange rates to 1031 frameworks to partnership and TIC issues. Delve into a Form 8824 preparation exercise that includes replacement property adjusted basis computation and other details. Additionally, we'll dedicate time to advanced 1031 exchange strategies. Bring your questions and be prepared to increase your expertise.
Understand how to prepare IRS Form 8824.
Determine 1031 exchange mathematics, including napkin test, boot and adjusted basis.
Recognize conceptual issues in 1031 exchanges.
Identify advanced concepts, such as improvement exchanges, reverse exchanges, nonsafe harbor exchanges and drop-and-swap.
Determine ethics and client counseling issues.
Identify how to evaluate and counsel clients about risk.
Statutory framework for 1031 exchanges
Characterization of business and investment property
Deferred exchange rules and techniques
Exchange mathematics: boot, gain and basis
Reporting for failed exchanges (over two tax periods)
Nonsafe harbor exchanges
Partnership and TIC issues: IRC Sec. 761
CPAs, attorneys, CFPs, enrolled agents, real estate and other professionals interested in an update, review or opportunity to discuss 1031 questions, as well as professional staff who prepare or review income tax returns.
Prerequisite: Basic knowledge of tax return preparation or familiarity with investment real estate planning, brokerage or operations.
Advanced Prep: None
Speaker: G Scott Haislet Esq, CPA
Field of Study: Taxes
CPE Credit: 8 Hours
Meet the Speaker:
G. Scott Haislet practices law in the areas of taxation, real estate, estate planning and 1031 exchanges. He is president of the Lafayette Exchange Corporation, qualified intermediary for 1031 exchanges. He is a California attorney, CPA, and is a Certified Specialist in Taxation Law (as certified by the California State Bar Board of Legal Specialization). Mr. Haislet writes and lectures frequently about tax, real estate, finance, estate planning and legal issues, and has authored continuing education courses for real estate and tax professionals. He has spoken frequently on San Francisco radio regarding real estate. He is a member of the State Bar of California (Tax Section), the United States Tax Court Bar, the Contra Costa County Bar Association (past Tax Section Chairman), CalCPA and the AICPA. He chaired the CalCPA Education Foundation's Real Estate Conference in 2004, 2005 and 2006. Mr. Haislet holds degrees from The University of Michigan School of Business and from Taft University School of Law. He formerly practiced with Price Waterhouse and Arthur Andersen Co.