Real Estate Taxation: Critical Considerations
4.00 Credits
Member Price $145
Non-Member Price $195
Overview
This course is offered in collaboration with multiple state societies and is hosted by the Indiana Society of CPAs.
This course is a 'deep dive' into many aspects involving the taxation of real estate for the mid-level practitioner moving into this complex area. You will deepen your understanding of the complex considerations and strategies that individuals must navigate in acquiring, operating, and selling real estate. You will leave the course able to navigate critical issues associated with the relevant returns and plan strategically for your company or clients. We will discuss in detail the impact that recent tax changes have had on the real estate industry, as well as new credits that are available after the Inflation Reduction Act of 2022.
Highlights
• The impact of recent tax legislation on the real estate industry • Depreciation and recapture • Determining the basis when acquiring real estate • Passive activity losses • Calculation of gain or loss on sale of real estate • Rental operations • Installment sales
Prerequisites
Some experience preparing tax returns involving real estate holdings and transactions
Designed For
Accounting and Finance Professionals who advise clients or their company on issues related to the acquisition, operating, and selling of real estate
Objectives
• Understand the most commonly used forms of ownership for real estate holdings and the scenario-based advantages and disadvantages of each • Know and be able to apply the key considerations in determinations surrounding depreciation and recapture, like-kind exchanges, and the determination of passive activity losses • Recognize how recent tax legislation impacts commercial real estate • Recognize how recent tax legislation impacts homeowners • Identify components for determing a property’s tax basis
Preparation
None
Leader(s):
Leader Bios
Jason Carney, Surgent McCoy CPE, LLC
Jason Carney, CPA, CISA, PMP, CISSP, CCSP, Esq. is a Lead Information Security Analyst with Thomson Reuters. He has more than 15 years of experience in public accounting, consulting and industry. His specialties include information security, tax problem resolution and data analysis. Carney has worked in Federal Finance, Information Security and Tax. He is a member of the Minnesota Bar and was a President’s Scholar at the University of Saint Thomas Law School. Carney co-founded the Scott County Conciliation Clinic and represents impoverished debtors pro bono in association with the Volunteer Lawyers Network. He wrote “What is Business Intelligence and Why Should CPAs Care?” for Footnote and contributed to the upcoming What Every Lawyer Needs to Know About Client Trust Accounts.
Non-Member Price $195
Member Price $145