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Course Details

Property Dispositions - Tax Mini Course (Course Id 138)

QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 25 ||| Review Questions: 10 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 2
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 138

Description :

Tax reform provisions have frequently changed the tax on profits realized from the disposition of real estate. This has forced investors to seek “escape hatches” from fluctuating capital gains taxes. Tax-deferred exchanges permit the disposition of property often with the taxpayer receiving significant cash but without the payment of any tax. Functionally, an exchange is a “bridge” over the normally taxable event of moving from one property to another. This course alerts the practitioner to the different planning opportunities that surround exchanging and also identifies the tax consequences of home sales, foreclosure, repossession, and other real property dispositions. Additional topics of interest include involuntary conversions and at-risk limits. 

Usage Rank : 16000
Release : 2023
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 13-Jul-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 138

Keywords : Taxes, Property, Dispositions, Tax, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.


At the start of the materials, participants should identify the following topics for study:

    * Capital gains
    * Home sales
    * Installment method
    * Contingent payments or price
    * Section 1031 like-kind exchanges
    * Delayed exchange regulations
    * Actual & constructive receipt rule
    * Foreclosure
    * Repossession
    * Condemnations
Learning Objectives:

After reading the materials, participants will be able to:
    1. Identify capital gains rates with applicable assets using the "basket" approach, cite the requirements of the home sale exclusion, and determine gain under the installment method recognizing the application of the unstated interest rules.
    2. Specify the types of property that qualify for a like-kind exchange and recognize the methods of identifying such property in a delayed exchange including the mechanics for such an exchange.
    3. Recognize the differences between recourse and nonrecourse indebtedness identifying their impact on foreclosures, determine how various types of property affect the repossession rules of 1038 including basis and gain or loss for both installment and non-installment method sales.
    4. Determine how easements affect condemnations and how to report gain or loss associated with involuntary conversions, cite the types of payments included in a condemnation award, and specify the types of entities that qualify for exclusion from at-risk limits recognizing the impact of recourse and nonrecourse financing.
Course Contents :

Chapter 1 - Property Dispositions

Capital Gains

Types & Classification of Gain & Loss

Rates - 1

Tax on Net Investment Income - 1411

Netting of Capital Gains & Losses

 Home Sales

Exclusion of Gain on Residence - 121

Two-Year Ownership & Use Requirements

Tacking of Prior Holding Period

Prorata Exception

Limitations on Exclusion

Installment Method




Mortgage in Excess of Basis

Related Party Resale Rule

Related Persons

Depreciable Property

Installment Obligations in Excess of $5 Million


Disposition of Installment Obligations

Imputed Interest & OID


Sale at a Loss

Section 483 - Imputed Interest

Imputed Interest Rates

Sections 1271-1274 & OID

OID Rates


Computation of OID

 Like-Kind Exchanges

Section 1031

Three Elements

Exchange Requirement

Two-Party Exchanges

Multi-party Exchanges



Delayed Exchanges

Identification & Exchange Periods

Method of Identification

Property Description


Qualified Property Requirement

Like-Kind Requirement

Like-Kind Requirement for Personal Property Repealed

Like-Kind Requirement  for Personal Property - Prior to 2018

Like Class Requirement  for Personal Property - Prior to 2018

SIC Replaced by NAICS System

Other Personal Property

Goodwill Prohibition

Rules of Boot

Related Party Exchanges

Definition of Related Party

Exceptions to the Two Year Rule

Foreign Real Property Exchanges

 Foreclosure & Repossession

Losing Property in Foreclosure

Discharged Debt

Nonrecourse Indebtedness

Recourse Indebtedness

Mortgage Relief Act of 2007 (Expired)

Principal Residence

Qualified Principal Residence Indebtedness

Acquisition Indebtedness


Personal Property

Non-Installment Method Sales

Basis of Installment Obligation

Gain or Loss on Repossession

Installment Method Sales

Basis of Installment Obligation

Gain or Loss on Repossession

Basis of Repossessed Personal Property

Bad Debt

Real Property


Figuring Gain on Repossession

Limit on Taxable Gain

Repossession Costs

Indefinite Selling Price

Character of Gain

Basis of Repossessed Real Property

Holding Period for Resales

Buyer Improvements

Bad Debt

Sellers Former Home Exception

 Involuntary Conversions



Threat of Condemnation

Reports of Condemnation

Property Voluntarily Sold


Condemnation Award

Amounts Withheld From Award

Net Condemnation Award

Interest on Award

Payments to Relocate

Severance Damages

Treatment of Severance Damages

Expenses of Obtaining an Award

Special Assessment Withheld from Award

Severance Damages Included in Award

Gain or Loss from Condemnations

How to Figure Gain or Loss

Part Business or Part Rental

Postponement of Gain

Choosing to Postpone Gain

Cost Test

Replacement Period


Replacement Property Acquired Before the Condemnation


Time for Assessing a Deficiency

Related Party Rule

 At-Risk Limits

Amount At Risk

Taxpayers Affected

Closely Held Corporation

Qualified Corporation Exception

Qualifying Business Requirements

Loss Defined

Disallowed Losses

Form 6198

Partnership & S Corporation Limits

Activities Covered by the At-Risk Rules

Real Property

Grouping of Activities

Partners & S Corporation Shareholders

At-Risk Amounts

Borrowed Amounts

Related Persons

Subsequent Years

Amounts Not At Risk

Nonrecourse Financing

Other Loss Limiting Arrangements

Reductions of Amounts At Risk



Tax CPE Courses: https://www.cpethink.com/tax-cpa-courses
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