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Title Section 1031 Like-Kind Exchanges: Advanced Topics

TITLE SECTION 1031 LIKE-KIND EXCHANGES: ADVANCED TOPICS

Cost Free
Presentation Length 1.0 hour

Recorded DateDecember 3, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Join us for an in-depth discussion on Section 1031 topics every investor and advisor should know. Starting with some context, we will review the like-kind exchange basics, history, and policy. We will then dive into advanced issues, including seller financing, exchanges over two tax years, then basis, deprecation, and related recapture issues. We will also review settlement statements and the Section 1031 treatment of the various expenses.

In closing, we will give an update on current proposals to limit/repeal Section 1031. This course is ideal for CPAs, EAs, lawyers, real estate professionals, accountants, or other tax professionals.

Learning Objectives: 


  • Define Section 1031 exchanges from a historical and tax policy perspective

  • Identify advanced issues related to exchanges, and award them proper treatment

  • Determine how Section 1031 views various settlement statement charges

  • List current proposals to amend or repeal Section 1031

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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First american exchange

Steve Chacon, CPA, CES®, is the Colorado Operations Manager for First American Exchange Company.

Licensed in Colorado, Steve is a Certified Public Accountant and holds a Bachelor of Science degree in business administration with an accounting emphasis from the University of Colorado. Steve also holds the like-kind exchange industry’s Certified Exchange Specialist designation and is a Certified Distance Educator.

Steve has earned a reputation for providing practical guidance as a financial statement auditor, tax advisor, entrepreneur, and educator on Section 1031 like-kind exchanges (LKEs). Passionate about the industry, Steve has spent the last 15 years focused on LKEs and enjoys creative and dynamic dialogue with clients, colleagues, and legislators on its incredible benefits.

Steve is a former president of the Federation of Exchange Accommodators (FEA). While president, he was part of the team that spearheaded efforts to preserve Section 1031. Those efforts resulted in a final draft of the “Tax Cuts and Jobs Act,” effective January 1, 2018, that preserved Section 1031 like-kind exchanges for real property assets and the Qualified Intermediary (QI) as exchange facilitator.

About Our Presenter

First american exchange
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. With revenues of $6.2 billion in 2019, the company offers its products and services directly and through its agents and partners in all 50 states and abroad.