Swapping Success: 1031 Tax Tips

Many of our clients have rental property and they have some decisions to make when their tenants move out.   Do they continue to rent it out?  Do they just sell it and take whatever is left after the tax bill?   Or should they consider a 1031 Exchange?   What are the rules?  What can they invest in?  How is this reported on the tax return?   We will go over all these questions.

Course Objectives:

           a.    Tax consequences when a property is sold

           b.    What are like-kind exchanges

           c.    What are the requirements for a 1031 exchange

           d.    How to compute boot and watch out for hidden boot

           e.    Using Section 121 with Section 1031

           f.     How to compute depreciation after a 1031 exchange

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*Self-Study recording not available for NASBA CPE credit.