Examine significant real estate tax issues and concepts, including planning and compliance topics that emphasize tax elimination or deferral. Updated to cover the 2017 Tax Cuts and Jobs Act.
Discuss the qualified business income deduction (Sec. 199A) as it relates to real estate investments; limited discussion of opportunity zones (Sec. 1400Z-2) relating to real estate; 1031 exchanges; home sale exclusion (IRC Sec. 121); passive activities loss rules; estate planning and gifting with real estate; and California property tax issues.
Identify important real estate tax and nontax issues.
Determine important techniques for deferral, reduction or elimination of taxes related to real estate acquisition, operations or disposition.
Identify key tax return disclosures, concepts and procedures.
Qualified business income deductions [IRC Sec. 199A].
Opportunity zone deferral, related to real estate [IRC Sec. 1400Z-2].
Passive activities loss rules [IRC Sec. 469].
Real estate professional rules [IRC Sec. 469(c)(7)].
Interest expense deduction rules [IRC Sec. 163].
Home sale exclusion [IRC Sec. 121].
Estate planning and gifting with real estate.
California property taxation.
Foreclosures and short sales.
Cancellation of Debt Income [IRC Sec. 108].
CPAs, CFPs, enrolled agents and attorneys.
Basic knowledge of real estate or tax preparation.