Course Description: This course covers the nontaxable exchange provisions of Section 1031 of the Internal Revenue Code. Included are a discussion of the types of property that do and do not qualify for nonrecognition treatment; the concepts of like-kind, "boot", and exchange; the deferred exchange rules; the rules relating to the allocation of boot; and the determination of the basis and holding period of properties received in such exchanges. The course also discusses the problems involved in sale and leaseback transactions, multi-party exchanges, multi-asset exchanges, and reverse exchanges. 

Course Level: Intermediate

Course Prerequisites: Tax-Free Exchanges Under Section 1031 - Level 1

Delivery Method: Self-study

At the end of this course, you will be able to: 

• Understand the principles of a delayed exchange; 
• Know the role of the qualified intermediary in a safe harbor exchange under the Tax Reform Act of 1984; 
• Know the identification rules, the exchange period requirements, and the restrictions imposed by the safe harbor; 
• Know when to employ a reverse exchange; 
• Know the role of the exchange accommodation holder; 
• Identify and know the attributes of two different parking arrangements; 
• Identify and know the basic rules for giving and receiving like kind property in the context of a 1031 exchange; 
• Know how to recognize and allocate basis transferred between properties in a 1031 exchange; 
• Identify Sections 1245, 1250 and 1254 Property; and 
• Know the basics about depreciation and how it affects a 1031 exchange.

CPE

3

CLE

N/A