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Tax Treatment of Appreciated Property Donation

Gain a better understanding of how to handle the taxation of appreciated property gifted to a nonprofit.

The donation of appreciated property can significantly benefit donors and charities, but involves an entanglement of tax rules on donations. With the 2017 Tax Cut and Jobs Act limiting other deductions, charitable deductions gain greater importance as a tax reduction tool. This topic will cover charitable tax reduction planning strategies and working with the deduction limitations. Special concerns covered will include charitable remainder trusts, bargain sales, and the 170(m) exception to self-created intellectual property

Runtime: 89 minutes
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Why Lorman?

Over 31 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

Overview

  • General Incentives for Donating Appreciated Property
  • Use of Charitable Remainder Trusts

General Limits Affecting Appreciated Property

  • 50% (60%) Charities
  • 30% Charities
  • Capital Gain Properties General Limit

- 30% Limit

- 20% Limit

  • Impact of 2017 Tax Cut and Jobs Act

- Change in Limit

- Change in Standard Deduction

  • Additional Appreciated Property Limits

- Ordinary Income Reduction

- Special Capital Gain Limits

- Partial Limit - Inventory/Depreciable Property

  • Section 1256 - Mark to Market Rule

- Zero Coupon Bonds

- Options/Commodities Futures

  • Corporate Limitation
  • 5-Year Carry-Over Rule

Pass-Through Entities - Appreciated Property

  • S Corporations

- Basis Adjustment (1367(a)(2))

- Timing of Deduction

  • Partnerships (Rev. Rul. 96-11)

Substantiation Basics

  • Estate/Gift Tax Returns
  • Income Tax Returns

- Dollar Thresholds

Qualified Appraisal Requirements

  • Overview
  • Notice 2006-96
  • Appraiser's Perspective
  • Substantial Compliance Requirement

- Elements of Substantial Compliance

- Mohamed v. Commissioner

Examples and Issues

  • Stock
  • Real Estate

- Bargain Sale Rule

- Fractional Interests

  • Artwork, Jewelry and Collections
  • Intellectual Property

- Copyrights

- Patents

Applicable Penalties

Penalty Avoidance/Defenses

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Why Lorman?

Over 31 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 Webinar

This course was last revised on February 23, 2018.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 1.5 live credit hour(s) through the Alabama State Board of Public Accountancy.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 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

Cameron L. Hess, Esq., CPA, MBT

Cameron L. Hess, Esq., CPA, MBT

Wagner Kirkman Blaine Klomparens & Youmans LLP

  • Partner with the Northern California law firm of Wagner Kirkman Blaine Klomparens & Youmans LLP
  • Practice focuses on real estate, business (including nonprofit) and tax representation, with an emphasis on property taxes, sales taxes and unitary income taxation
  • Previously managed KPMG's state and local tax practice
  • Past property tax columnist for Spidells California Taxletter
  • More than 28 years of experience
  • Chair of The RED Group, a CalCPA Sacramento Real Estate think tank, 1992 to 2012
  • Chair/past chair CalCPA Real Estate Conference (California conference and Sacramento Chapter Conference) 2002 to 2012
  • President, Rental Housing Association of Sacramento Valley
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Why Lorman?

Over 31 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.

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Product ID: 399805
Published 2018
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