Feb. 15, 9:00 a.m. - 12:15 p.m.

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Accruit's David Gorenberg, JD, CES, will be co-teaching “Section Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s for Real Estate, General Practice, and Tax Law Practitioners” on February 15, for the New Jersey Institute on Continuing Legal Education (NJ ICLE), the education arm of the New Jersey Bar Association.

Topics Include

• 1031 Basics
• Thorny Section 1031(a)(3) and Section 1.1031(k)-1(c) provides that a written unambiguous description of the intended replacement property or properties, signed by the taxpayer must be sent to the qualified intermediary or other person who is a party to the exchange and who is not a disqualified person. Identification Issues
• Definition of The land, and everything that is permanently attached to the land, and all of the rights of ownership of that property. Real property is typically classified according to its general use as either residential, commercial, agricultural, industrial, or special purpose. Real Property
• Cash-out Refinancing
• Early Release of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Funds
• Reverse The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange s
• Improvement/Construction The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange s
• and much more...

NJ CLE information: This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 3.6 hours of total CLE credit in NJ, PA, and NY.

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