Webcast: Selling a Principal Residence (XCSLPR17)
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The sale of a personal residence with a gain can be subject to favorable tax treatment. Focus on a special rule that is available for the sale of a principal residence. The calculation of the potential gain or loss will be discussed. Qualification for the favorable gain exclusion will be explained. Special facts related to the ownership and use of the residence will be identified and their consequence evaluated. Discuss the sale of a personal residence at a loss during this session. Plus, identi

10/30/2017
When: 10/30/2017
11:30 AM until 12:30 PM
Where: Webcast
CALCPA
4173327B
United States
Presenter: John G. McWilliams, CPA, JD


Online registration is closed.
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Acronym XCSLPR17
CPE 1 hour
Vendor CalCPA
Category
Taxation
Level Overview
Prerequisite Understanding of the federal income tax law as applied to individuals.
Adv Prep None
Yellow Book? No
Designed for CPAs, lawyers and other advisers who offer tax and personal financial advice to individuals.
Registration
Member $30
CPA Non-Member $50

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The sale of a personal residence with a gain can be subject to favorable tax treatment. Focus on a special rule that is available for the sale of a principal residence. The calculation of the potential gain or loss will be discussed. Qualification for the favorable gain exclusion will be explained. Special facts related to the ownership and use of the residence will be identified and their consequence evaluated. Discuss the sale of a personal residence at a loss during this session. Plus, identify and evaluate tax planning ideas and strategies.

Materials are provided as an ebook for this course.

Objectives

  • Consider the law which determines the calculation of the recognized gain or loss.
  • Explain the requirements that must be satisfied to be eligible for the exclusion.
  • Identify the significance of special facts related to ownership and use of the residence.
  • Determine the amount of the exclusion.
  • Evaluate the tax considerations related to the sale of a personal residence at a loss.
  • Identify and evaluate tax planning strategies.

Major Topics

  • Determination of the gain from the sale of a principal residence
  • Explanation of the requirement that must be satisfied to be eligible for the exclusion including consideration of special ownership and use situations
  • Calculation of the amount of the exclusion
  • Tax considerations if the personal residence is sold at a loss
  • Tax planning ideas and strategies