The partnership is the most popular entity for holding, managing and constructing real estate. In a unique approach that "fills in the gaps" for both novices and experienced practitioners, this self-study webinar explores how partnership taxation applies in the real estate arena. You will receive expert guidance on various areas of interest, including:
- Recent tax legislation and regulations impacting real estate partnerships
- Calculation of operating income
- How tax laws apply to lease transactions
- Computation of basis in real estate partnerships and liabilities
To give practitioners the technical skills to service real estate partnerships. You will gain a deeper understanding of the business of real estate formation, finance and operation. You'll be able to identify relevant tax issues and plan aggressively for your company or clients.
- Forms of ownership & benefits of each
- Partnership accounting methods
- Applicability of Section 467
- Treatment of lease acquisition costs and lease cancellation payments
- Latest rules for depreciation
- Business interest
- Contributions to partnerships & disguised sales
- §752 Regulations
- Basis adjustments: Sections 743, 734 & 754
- Overview of section 704(B)
- Special allocations—contributed assets
- Section 1031—like-kind exchanges
- Involuntary conversions
- Charitable contributions of property
- Foreclosures & debt restructuring
• Recognize factors considered when selecting the type of entity for an organization
• Identify how a partnership is taxed
• Recognize the type of entity subject to double taxation
• Identify the preferred type of entity for real estate companies
• Identify individual vs. aggregate partnership taxation concepts
• Identify the allowable methods of accounting for partnerships
• Recognize the definition of a tax shelter
• Identify characteristics of a disguised sale
• Recognize the circumstances in which a partner would recognize a gain upon the contribution of property in exchange for partnership interest where the contributed property has liabilities attached
• Identify the factors considered when determining a partner’s basis in their partnership interest
• Identify the concept of allocation of recourse debt
• Recognize the definition of nonrecourse liabilities
• Identify the regulations in Section 752, Section 704(b), Section 704 (c), Section 754, Section 163(j), Section 467, Section 1061, Section 1031 and Section 108.
• Recognize the circumstances in which a qualified income offset applies
• Identify how advanced rent payments and bonus rent payments are recognized by a real estate partnership
• Recognize the period in which nonresidential and residential real property is depreciated over
• Recognize when tenant security deposits are recognized as income
• Identify acceptable types of qualified intermediaries
• Recognize the definition of involuntary conversions
• Recognize examples of when foreclosure can occur
• Recognize the characteristics of a recourse mortgage
• Identify the characteristics of insolvency