Learn about the key issues impacting real estate 1031 like-kind exchanges.
This topic covers critical IRS time deadlines in delayed exchanges, like-kind requirements, including creative property variations like easements, transferable development rights, oil/gas/minerals rights, vacation homes held for investment, fractional ownership (DST and TICs), partnership/LLC scenarios (and how to best structure in advance of a 1031 exchange), reverse and improvement exchanges, related party transactions and how to avoid common pitfalls and other 1031 related issues. The information will provide a summary of current developments regarding applicable revenue rulings, PLRs, and other recent IRS guidance on current issues related to 1031 exchanges, including how to help taxpayers owning commercial property in an LLC or partnership plan in advance to help avoid issues at closing if only some of the LLC members or partners want to exchange including the drop and swap, swap and drop, and Partnership Installment Note (PIN) approaches. Finally, this will include a brief overview of what works and what does not when combining Qualified Opportunity Zones with 1031 exchanges.
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Agenda
Understanding the Capital Gain and the Impact of Taxes
- Depreciation Recapture
- Federal Capital Gain Taxes
- Net Investment Income Tax
- State Taxes
IRC Section 1031 Provision
- Exceptions
Partnerships/LLCs in a 1031 Exchange
- Drop and Swap
- Swap and Drop
- Court Holdings Case and Other Tax Court Decisions
- Partnership Installment Note (PIN) Under Section 453
Related Parties
- Who Is a Related Party
- Related Party Swaps
- Selling to a Related Party
- Buying From a Related Party
- Buying From a Related Party Who Is Also Exchanging
- Applicable Related Party PLRs, Revenue Procedures, and Tax Court Decisions
Like-Kind Property
- What Qualifies and What Does Not Qualify
- Transferable Development Rights
- Water Rights
- Easements
- Energy (Oil, Gas, Minerals)
- Vacation Homes and Revenue Procedure 2008-16
- Delaware Statutory Trusts (DSTs)
Exchange Variations
The Delayed Exchange Process
- Identification Time Deadline
- Exchange Period Time Deadline
- Identification Rules
- How to Properly Identify Property
- G(6) Restrictions in a Delayed Exchange
- What Not to Do in a Delayed Exchange
Parking Arrangements
- Revenue Procedure 2000-37
- Reverse Exchanges
- Improvement Exchanges
- Reverse Improvement Exchanges
- Qualified Opportunity Zones and 1031 Exchanges
Qualified Intermediary Due Diligence
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Credits
OnDemand Course
This course was last revised on June 8, 2023.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
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- CT CLE 1.0
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- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
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- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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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.
Faculty
Scott R. Saunders
Asset Preservation Inc.
- Senior vice president with Asset Preservation, Inc. (API), a subsidiary of Stewart Information Services Corporation (NYSE: STC)
- Extensive background in IRC §1031 tax deferred exchanges, having been involved in structuring thousands and thousands of §1031 exchanges during his thirty-two years in the exchange industry
- Dedicates a significant portion of his time presenting classes on intermediate and advanced §1031 exchange strategies to accountants, attorneys, financial advisors, real estate brokers, and principals nationwide
- Has spoken many times for various associations and organizations
- Contributing author to the book Real Estate Exchanges: Using the Tax Deferred Exchange in Real Estate Investment Management and has been featured in The Wall Street Journal, CNBC, Forbes Real Estate Investor, and U.S. News and World Report
- Has written over 200 articles on various aspects of §1031 exchanges, capital gain taxation, and investment real estate, featured in many investment publications such as the New York Real Estate Journal, Mid Atlantic Real Estate Journal, Inman News, REBusiness Online, Heartland Real Estate Business, Western Real Estate Business, REALTORS® Land Institute Terra Firma, ALTA’s Title News, HousingWire, and many other real estate and other financial publications
- Degree in business economics, University of California at Santa Barbara
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