Course Description
Gains on the disposition of assets are a significant source of income for many taxpayers. A taxpayer may also have a deductible loss. The rules for the disposition of certain types of assets are complex and, without careful planning, taxpayers can have unpleasant surprises. This course will help you navigate the rules for Sections 1245, 1250, and 1031 gains to better understand the different types of gains for smart tax planning.
After completing this course, you will be able to:
- Identify transactions which fall under Sections 1245, 1250, and 1031
- Calculate the gains from these transactions
- Calculate the basis of any property acquired in a Section 1031 transaction
- Understand the timing requirements for a valid Section 1031 transaction
- Understand how to calculate Section 1231 gains where applicable
Affilliation
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Drake Software is an IRS-qualified sponsor of continuing professional education.
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Drake Software 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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.learningmarket.org.
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Drake Software has been approved by the California Tax Education Council to offer the Gains on Dispositions of Property course, CTEC #3038-CE-0297, which provides 1 hour of federal credit and 0 hours of state credit towards the annual continuing education requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, at (877) 850-2832, or at www.ctec.org.
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Drake Software is registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program.
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Course Policies
Send cancellation requests to Support@DrakeCPE.com. Requests must be made within 30 days of purchasing the course. To be granted a full refund, you must not have completed and earned continuing education for the course. No refunds will be issued after the course expiration date. For more information regarding the refund policy or to address concerns or complaints regarding courses, contact the DrakeCPE support team at Support@DrakeCPE.com.
