Property Transaction Taxation
Anthony Curatola is the Joseph F. Ford Professor of Accounting and Tax
at Drexel University in Philadelphia. Tony’s area of research is the
taxation of individuals, small businesses owners, and retirement income.
He has authored over 230 articles in his field and has completed
sponsored research for external groups. His findings have appeared in
media such as Forbes, The Washington Post, Wall Street Journal, and The
New York Times. He is the editor of the tax column for Strategic
Finance, and the author of several interactive education courses for
Thomson Reuters. He holds a variety of leadership positions in
accounting associations, including the Institute of Management
Accountants. Dr. Curatola earned his B.S. in Accounting ’75 and MBA in
Finance ‘77 from Drexel University, M.A. in Accounting ’79 from The
Wharton School of the University of Pennsylvania, and Ph.D. in
Accounting ‘81 from Texas A&M University.
This session highlights the current tax rules associated with capital gains and losses because of the change in the COLA calculation from CPE-U to C-CPI-U. In addition, we look at the basis determinations resulting from the different ways to acquire property for business or personal use. Gifts, for example, received by an individual result in some challenges when determining a person’s gains or losses, which are discussed and illustrated in this webinar. The gain or loss on the sale or transfer of business assets can result in 1231, 1245, 1239, 267, 291, and 1250 recapture rules.
Finally, the involuntary conversion rules for property, residences, and livestock are discussed.
Areas Covered
- Discuss the tax rules associated with capital gains and losses calculations
- Review the six basis determination rules for property
- Illustrate the capital gains and loss calculations for the different property transactions
- An in-depth discussion of the recapture tax rules
- Discuss the tax rules associated with related party transactions
Who Should Attend
Tax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants.
Why Should You Attend
The sale or exchange of an asset results in a gain or loss from the transaction. This gain or loss from a property transaction may be capital or ordinary depending on the situation. In this webinar, we introduce the underlying tax treatment for 1245 and 1250 property transactions. Then we discuss and illustrate the determination of the property’s basis, and the capital gains and loss calculations associated with the acquisition and disposition of depreciable property, real property, converted property, and special property transactions.
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$200.00
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