Like-Kind Exchanges under Section 1031 of the Internal Revenue Code 2 CPE

This course covers like-kind exchanges in detail, and it reflects the recent 2017 Tax Cuts and Jobs Act that limits those exchanges to real property.

We provide in-depth coverage of the key aspects of Section 1031 like-kind exchanges, including potential uses for such exchanges (such as “drop and swap” planning), requirements to qualify an exchange for nonrecognition treatment, and implications of like-kind exchanges (including tax basis and holding period rules concerning properties received in such an exchange).The course describes considerations concerning non-qualifying property (i.e., boot) and liabilities, which are often present in like-kind exchanges. It explains practical concerns that can apply to like-kind exchanges, and approaches that have been developed to address them including multiple party exchanges, deferred exchanges (including the qualified intermediary, qualified trust and qualified escrow safe harbors) and “reverse” exchanges. It also covers other aspects of like-kind exchanges, including tax reporting requirements.

While tax professionals will find the technical aspects of these courses helpful in  comprehensively understanding the Section 1031 like-kind exchange rules, it will also be valuable to real estate professionals, finance and accounting executives, accountants dealing in business and individual planning (including trusts and estates) and others who invest in real property or might otherwise benefit from knowledge of the like-kind exchange rules.

Course Key Concepts: Tax, Like-kind exchange, Tax-free exchange, Real Property, Deferred exchange, Reverse exchange, Qualified intermediary

Prerequisites

No advanced preparation or prerequisites are required for this course.

Learning Objective

• Discover innovative uses for like-kind exchanges
• Identify requirements for like-kind exchanges
• Explore key implications of like-kind exchanges
• Recognize potential exposures concerning like-kind exchanges, and ways of mitigating those exposures

Last updated/reviewed: March 27, 2024