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Applying 1031 Knowledge in the Real World

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, PLR's 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.

Runtime: 90 minutes
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Why Lorman?

Over 32 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

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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Why Lorman?

Over 32 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 November 25, 2019.

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

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

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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More Program Information

Why Lorman?

Over 32 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

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
  • 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
  • Business economics degree from the University of California at Santa Barbara
  • Written over 200 articles on various aspects of §1031 exchanges, capital gain taxation and investment real estate, articles have been 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
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Why Lorman?

Over 32 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: 406596
Published 2019
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