PROPERTY EXCLUSIONS Mod 3-2

PROPERTY EXCLUSIONS Mod 3-2 - OUTLINE MODULE NO 3-2...

Info icon This preview shows pages 1–2. Sign up to view the full content.

OUTLINE – MODULE NO. 3-2 PROPERTY TRANSACTIONS: DEFERRED AND EXCLUDED GAINS/LOSSES (References are to text paragraphs) Determining the amount of gain or loss realized was addressed in Module #3-1. This module focuses on when (or, if ever) the gain/loss will be recognized. “Tax-free” is the generic term sometimes used for transactions that have no current tax consequence. It is more appropriate to refer to such transactions as either “deferred” transactions or “excluded” transactions. In the former category are transactions for which the gain or loss is not currently recognized, but at some later time will be recognized. In the latter category are those transactions for which the gain or loss is permanently excluded.. I. EXCHANGES WHERE GAINS/LOSSES ARE DEFERRED . A. Sec 1031 Like-Kind Exchanges (Ref. 11,201 – 11,275) 1. Qualifying Property: investment property. NOT personal use and inventory 2. What is “like-kind”?
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • Fall '13
  • jackson
  • Accounting, primary residence, Replacement Property

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern