This IRS-approved course delivers a comprehensive update on real estate tax laws, depreciation strategies, and the latest provisions from the One Big Beautiful Bill Act (OBBBA). Designed for tax preparers and Enrolled Agents, the program covers essential rules for like-kind exchanges, installment sales, involuntary conversions, principal residence exclusions, vacation homes, and passive activity loss limitations.
Participants will explore how OBBBA provisions reshape depreciation rules, business deductions, and planning strategies for clients with residential and commercial property. The course provides real-world examples, IRS code references, and planning insights to help you apply these rules effectively in practice.
Approved for the Annual Filing Season Program (AFSP), as well as Enrolled Agents and CTEC participants, this course ensures you stay current, compliant, and confident in guiding clients through complex real estate tax situations.
Learning Objectives:
By the end of this course, participants will be able to:
- Explain the updated rules under IRC §§ 1031 and 1033, including like-kind exchanges and involuntary conversions.
- Apply installment sale reporting requirements and calculate gross profit percentages.
- Identify related-party transaction restrictions and their tax implications.
- Summarize the rules under IRC §121 for principal residence exclusions, including reduced exclusions and surviving spouse provisions.
- Determine the proper treatment of vacation homes and rentals under §280A and passive activity rules under §469.
- Calculate and apply depreciation strategies under OBBBA, including bonus depreciation and Section 179 updates.
- Recognize planning opportunities for Enrolled Agents and tax preparers to maximize client benefits while ensuring compliance.
- Avoid common pitfalls in home office deductions and passive activity loss limitations.
- Integrate OBBBA updates into real estate tax planning for both individuals and businesses.
About the Presenter:
Doug Stives is considered a worldwide leader in public and management accounting by AICPA &CIMA. He is a CPA, MBA, and recently retired professor of Accounting at Monmouth University and a professional speaker at many organizations and conferences. Doug was honored as Monmouth's Outstanding Business Professor of the Year in 2009, 2016, and 2024 and was awarded an Outstanding Educator award in 2021 by the New Jersey Society of CPAs. Frequent media exposure includes The Wall Street Journal and other national publications and television, including CNN, CNBC, PBS, NBC, Fox, CBS, ABC, and several cable networks. Doug was once dubbed as the "Most Tax Efficient Man in America" by the Wall Street Journal.
