In a declining real estate market, more building owners and developers are concerned about the tax consequences associated with foreclosures, deeds in lieu of foreclosure, short sales and debt restructuring.
Often, the tax consequences associated with these transactions can be difficult to determine. This OnDemand Webinar will help you advise your clients on the income tax effects of restructuring debt or disposing of property in zero equity transactions. Learning Objectives: •You will be able to discuss net operating losses. •You will be able to explain Section 108. •You will be able to review tax considerations for lenders. •You will be able to describe how to transfer property to pay debt.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
General Principles
- Cancellation of Indebtedness Income
- Nonrecourse Debt
- Recourse Debt
- Purchase Money Debt
Tax Considerations for Borrower
- Cancellation of Indebtedness Income
- Section 108
- Transferring Property to Pay Debt
Tax Considerations for Lender
- First Mortgage
- Second Mortgage
- Information Reporting
Modifying Debt Instruments
- No Exchange
- Exchange Treatment
Net Operating Losses
Section 108
- Insolvency Exclusions
- Related Party Acquisitions
- Purchase Money Debt
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on June 12, 2013.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Phillip L. Jelsma
Crosbie Gliner Schiffman Southard & Swanson LLP
- Partner, McKenna Long & Aldridge LLP in the San Diego, California office
- Practices in tax and business planning
- Frequent speaker in tax planning for real estate and real estate professionals
- J.D. degree, Stanford Law School; B.S. degree, University of Southern California
- Can be contacted at [email protected]
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
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