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Installment Sales and Like-Kind Exchanges (ISLE)

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Mr. Eskin's presentation style is lively and engaging. He clearly knows the material inside-out and enjoys presenting it. The handouts are well written and follow the lecture portion perfectly. He kept it moving and very interesting. I also liked the backdrop of the windows instead of the Surgent logo bedsheet. This is by far the best Surgent webinar I have attended in my 4-5 years as a subscriber.
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Installment Sales and Like-Kind Exchanges (ISLE)

  • Customer Rating
    (8)
  • Field of Study
    Taxes
  • Level
    Intermediate
  • Credits
    2
  • Qualifies for

    CPE

Overview

When real property is sold for a gain, we always try to find ways to defer recognizing a taxable gain so it won’t be necessary to send a check to Uncle Sam in the year the property was sold. Well, there are two provisions within the Internal Revenue Code that allow the taxpayer to defer recognition of immediate taxable gain in the year of sale; installment sales and like-kind exchanges. Knowing how and when to utilize these provisions makes the CPA very valuable to either their client or the entity they work for.

Major Topics:

  • How does the IRC define an installment sale under IRC §457
  • When can a taxpayer utilize the provisions of IRC §457
  • When should a taxpayer utilize the provisions of an installment sale and when should it be avoided
  • How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method
  • How to report an installment sale when related parties are involved
  • How to calculate an installment sale
  • How has the Tax Cuts and Jobs Act impacted the use of the Installment Sale method
  • What is a like-kind exchange as defined by IRC §1031
  • When can a taxpayer utilize the provisions of IRC §1031
  • What types of real property are eligible for like-kind exchange treatment and what types are not
  • What is “boot” and how does it impact the like-kind exchange deferral
  • How to calculate a like-kind exchange including any taxable portion
  • How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges

Learning Objectives

  • Know when and how to utilize the provisions of IRC §457 to defer recognizing gain on the sale of real property via utilizing installment sales
  • Know when and how to utilize the provisions of IRC §1031 to defer recognizing gain on the sale of real property via utilizing a like-kind exchange

Designed for:

CPAs who either represent or work for entities that own real property

Prerequisite:

A basic understanding the provisions for recognizing gain or loss on the sale of real property

Advanced Preparation:

None

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PRIVATE WEBINARS AND LIVE ON-SITE COURSES ARE AVAILABLE. LEARN MORE.
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