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Webinar (CA): Selling a Principal Residence

Description

The sale of a personal residence with a gain can be subject to favorable tax treatment. Focus on a special rule that is available for the sale of a principal residence. The calculation of the potential gain or loss will be discussed. Qualification for the favorable gain exclusion will be explained. Special facts related to the ownership and use of the residence will be identified and their consequence evaluated. Discuss the sale of a personal residence at a loss during this session. Plus, identify and evaluate tax planning ideas and strategies.

Learning Objectives

• Consider the law which determines the calculation of the recognized gain or loss.
• Explain the requirements that must be satisfied to be eligible for the exclusion.
• Identify the significance of special facts related to ownership and use of the residence.
• Determine the amount of the exclusion.
• Evaluate the tax considerations related to the sale of a personal residence at a loss.
• Identify and evaluate tax planning strategies.

Major Topics

• Determination of the gain from the sale of a principal residence
• Explanation of the requirement that must be satisfied to be eligible for the exclusion including consideration of special ownership and use situations
• Calculation of the amount of the exclusion
• Tax considerations if the personal residence is sold at a loss
• Tax planning ideas and strategies

Provider
California CPA Education Foundation
Course Level
Overview
CPE Field of Study
Tax
1
Who Should Attend

CPAs, lawyers, tax professionals and personal financial advisers.

Instructor(s)
John McWilliams
Prerequisites

Understanding of the federal income tax law as applied to individuals.

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Dec 10, 2021
10:30 am - 11:30 am MDT
Location
Webinar
Total CPE Credits
1
Format
Webinar

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$49.00
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Webinar (CA): Selling a Principal Residence


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