This seminar is designed for attorneys, business owners and managers, accountants, controllers, enrolled agents, financial planners, commercial real estate brokers and investors.
This seminar provides a thorough understanding of the statutory requirements for an exchange of like kind property under Internal Revenue Code section 1031, including the types of real and personal property that may be exchanged and the types of property excluded from the provisions of section 1031. The requirements for deferred exchanges and the mechanics of effectuating deferred exchanges will be discussed in depth, with substantial time devoted to the intricacies and practical problems of completing an actual exchange. The tax consequences of boot (non-like kind property), basis and holding periods will be explained. The restrictions on exchanges between related parties will be examined.
This seminar will spend substantial time discussing how to effectuate reverse exchanges under Rev. Proc. 2000-37, where either the replacement property or the relinquished property is parked with the intermediary. Also, the details of Rev. Proc. 2002-22, the long-awaited guidance from the IRS on exchanges involving tenants-in-common interests, will be discussed in depth.
The seminar will address current problems in exchanges, including financing issues and exchanges involving partnerships, corporations and vacation homes.
8:30 a.m. - 9:45 a.m.
I. Overview And Statutory Requirements
9:45 a.m. - 10:05 a.m.
II. Excluded Property
10:05 a.m. - 10:15 a.m.
10:15 a.m. - 12:00 p.m.
III. Deferred Exchanges
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 1:15 p.m.
IV. Boot (Treatment Of Non-Like Kind Property Received In
1:15 p.m. - 1:30 p.m.
V. Basis And Holding Periods
1:30 p.m. - 2:00 p.m.
VI. Related Party Exchanges
2:00 p.m. - 2:50 p.m.
VII. Reverse Exchanges And Improvement Or Build To Suit
Exchanges Under Rev. Proc. 2000-37
2:50 p.m. - 3:00 p.m.
3:00 p.m. - 3:45 p.m.
VIII. Tenants-In-Common Ownership Issues Under Rev. Proc.
2002-22 (March 19, 2002)
3:45 p.m. - 4:30 p.m.
IX. Current Problems In Exchanging
A. Financing Issues
B. Exchanges Involving Partnership And Co-Ownership Issues
C. Distributions From And Contributions To Corporations
D. Exchanges Involving Vacation Homes