Intro to 1031-Exchange Rules for Real Estate Transactions: Identifying Property, Required Documentation, Basis, Form 8824
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Beginner
- work Practice Area
Tax Law
- event Date
Thursday, February 20, 2025
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
-
BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
-
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
This course will provide an overview of Section 1031 like-kind exchange rules and guide counsel through the complicated transactional process of real property exchanges. The panel will provide an overview of the components of like-kind exchanges, what property qualifies for like-kind exchanges, the exchange participants and their roles, understanding critical dates, Form 8824, and best practices throughout the process.
Mr. Kakstys’ practice focuses on the acquisition, disposition and financing of commercial properties. He represents owners of properties throughout the U.S. in connection with purchases and sales, with particular emphasis on shopping center transactions. Mr. Kakstys also represents institutional lenders in the origination of commercial mortgage loans for their securitization and balance sheet lending platforms. His practice encompasses financing a variety of property types throughout the country, including retail, multifamily, office, hotel and industrial assets, and he has experience with a wide array of financing structures and deal features, including subordinate and mezzanine debt, 1031 and reverse 1031 exchanges, leasehold mortgages, industrial development agency interests and tenancy-in-common ownership. Mr. Kakstys also has experience representing clients in connection with loan purchases, sales and modifications and commercial leases and subleases.
Mr. Walther is General Counsel at Legal 1031 Exchange Services, LLC, where he advises the leadership team and plays a key role supporting business operations. He oversees Legal 1031’s parking exchange program, specializing in reverse and improvement exchanges and other complex transactions. Before joining Legal 1031, Mr. Walther practiced law at a Philadelphia firm, focusing on real estate, employment, and commercial law. His background also includes roles in real estate and finance, enhancing his expertise in transactional structuring. Mr. Walther is admitted to practice in Pennsylvania, New Jersey, and the U.S. Tax Court. He holds an LL.M. in Taxation from Temple University’s Beasley School of Law, a J.D. from Rutgers School of Law, and a B.A. in Political Science from Stony Brook University. A frequent speaker on IRC §1031 tax-deferred exchanges and real estate taxation, Mr. Walther educates legal, accounting, real estate, and financial professionals through seminars and continuing education programs. He is a certified instructor for Real Estate Continuing Education and Continuing Legal Education in multiple states. Additionally, Mr. Walther authors articles and technical content on 1031 exchanges, real estate and business taxation. His insights have been featured in national tax and real estate publications.
Real estate remains one of the top portfolio items for investors, with thousands of transactions taking place daily. This webinar will provide legal advisors counseling taxpayers in real estate transactions with an overview of the requirements for like-kind exchanges and key considerations when planning these transactions. Counsel must correctly structure 1031 exchanges according to IRS requirements to avoid unraveling exchanges, amending tax returns, and unexpected tax hits for clients.
This webinar will also cover the benefits, options, and limitations for real estate investors. Our goal is not only to help legal advisors structure compliant exchanges, but also to help them identify opportunities for their clients to plan proactively and harness the benefits of Section 1031.
Listen as our panel of practitioners provides a practical guide to structuring real estate exchanges, from analyzing ownership profiles to acquiring replacement properties to complete the exchange.
- Framework of Section 1031 like-kind exchanges
- Eligible assets
- Timing requirements and use of qualified intermediaries
- "Boot," debt, basis, and gain calculations
- Structures
- Forward exchanges (Deferred Exchanges)
- Reverse exchanges (Parking Arrangements – Exchange Last)
- Other Considerations
- Planning opportunities using SMLLCs, TICS, other structures
- Limitations regarding exchanges by partnerships and s-corporations
- Limitations of the Section 1031(f) related-party rules
The panel will discuss these and other key issues:
- What types of real estate and other interests are considered "like-kind"?
- What is the role--and restrictions--of the qualified intermediary?
- Limitations like the 1031(f) restrictions exchanges with related parties and the “same taxpayer rule”
- Avoiding pitfalls like actual and constructive receipt of income; qualified purpose; qualified use, and the same taxpayer rule.
Learning Objectives
After completing this course, you will be able to:
- Identify key issues in 1031 like-kind exchanges under current tax law
- Recognize the types of exchanged properties more likely to be considered sufficiently "like-kind" and receive tax deferral
- Understand the role and restrictions of the qualified intermediary
- Ascertain methods to avoid the 1031(f) restrictions against related-party exchanges
- Understand the requirements of Sec. 1031's "holding period requirement"
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.
Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Related Courses
Capital Gains Tax Planning for Real Estate Transactions: Tax Allocations, IRC 338 and 754 Elections, IRC 1031, QOFs
Wednesday, April 16, 2025
1:00 PM E.T.
Tax Treatment of Earnouts in M&A Transactions: Navigating Key Tax and Accounting Implications for Buyers and Sellers
Friday, April 11, 2025
1:00 p.m. ET./10:00 a.m. PT