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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Real Estate Partnerships: Get In, Get Out, Get Taxed (REPG)

(Updated for the Tax Cuts and Jobs Act) 8-Hour Program

WHY ATTEND THIS COURSE?

Taxation specific to the real estate industry is awash with special tax laws that are complex and associated with the real estate industry. The current tax laws and regulations may determine profitability when acquiring and disposing of real property. Special tax laws have been promulgated to mitigate the tax burdens, which in turn may determine returns on investment in real property. Historically, the partnership, and more recently, the limited liability company entities are the most commonly used forms of ownership when acquiring or constructing real property. The seminar explores how partnership taxation using either type of entity applies in many areas of the real estate industry.

DESIGNED FOR...

CPAs in public practice or industry that practice in the real estate industry.

OBJECTIVE

Participants will be able to:

  • Plan and comply with taxation provisions affecting partnerships, LLCs, and corporations
  • Recognize opportunities to mitigate tax burdens
  • Work with clients and associates to structure real estate deals providing a favorable tax status
  • Understand the tax treatment of cancellation of indebtedness issues
  • Execute strategies for exiting partners

MAJOR SUBJECTS

  • Disposition of real property, including Section 1031 exchanges, contributions of real property, and involuntary conversions
  • The tax implications of abandonment of a partnership interest and deduction for a worthless partnership interest
  • Recourse and nonrecourse debt allocations
  • Cancellation of indebtedness tax issues under Section 108 including insolvency and bankruptcy relief provisions
  • Computing amount of qualified property to compute limits for any qualified business income deduction added by the Tax Cuts and Jobs Act
  • Determine if rentals rise to the level of a trade or business to determine if the qualified business income deduction added by the Tax Cuts and Jobs Act is available
  • Dealer versus investor substance issues and tax effects
  • Valuation of real estate partnership interests for estate planning and gains on disposition of a partnership interest
  • Tax treatment of lease acquisition and cancellation costs
  • The complexities of Section 467 lease arrangements
  • Passive activity, tax basis, and at-risk basis limitations
  • Planning techniques to reduce taxes upon disposition of real property

COURSE ACRONYM: REPG

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Intermediate

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Taxes/Special Tax Matters

RECOMMENDED CPE CREDIT: 8 hours


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.