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.
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.