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Section 1031 ~ Tax Deferred Exchanges
Wednesday, July 15, 2020, 12:30 PM - 1:30 PM CDT
Category: CLE

Section 1031 ~ Tax Deferred Exchanges  
(Approved for 1.0 CLE credit)

Presenters:  Mary Cunningham and Miriam Golden, Chicago Deffered Exchange Company
This 1.0 hour interactive CLE program reviews IRC Section 1031 tax-deferred exchanges and includes a discussion of statutory requirements, forward exchange mechanics, basis and boot calculations, partnership issues in a 1031 exchange and reverse/parking transactions.  Case studies are included throughout.  Discussion is encouraged as we review common issues and planning opportunities.

Learning Objectives:

After completing this course, you will be able to: 

  • Understand the basic statutory requirements of Section 1031 tax-deferred exchanges
  • Understand the 45 day identification rules and 180 day acquisition rules
  • Have the ability to recognize “safe harbor” 1031 documentation
  • Recognize the importance of partnership issues in 1031 exchanges and the common challenges that partnerships encounter when exchanging property
  • Identify when a “reverse” or “parking” transaction is a viable option for your client

Reasons to Attend:
A newer attorney will learn (a) the basics of 1031, (b) to spot problem issues such as partnership exchanges, and (c) about planning opportunities available with reverse/parking/build to suit transactions. Section 1031 and the corresponding Treasury Regulations are technical and our goal is to teach and remind that a 1031 exchange can fail for ministerial errors.  New attorneys need to understand both the basics (which are generally clear cut) and more complex 1031 issues.

An experienced attorney will receive a refresher course on the basics, a review of partnership exchanges (the most common 1031 challenge) and a review and reminder that reverse/parking/build to suit transactions are a great planning opportunity for 1031 taxpayers.  Experienced attorneys who are familiar with 1031, but might now see many from year to year, need a refresher on the basics and a reminder that dates and safe harbors are critical.  Partnership issues are never clear cut and seasoned attorneys that don’t see these often, need to understand the implications of different decisions in terms of how to handle partnership issues. 

Credit: 1.0 CLE credit to be applied for
Presentation: 12:30 - 1:30 PM
Location: Online Viewing (Zoom)

$40.00 MBA member
$75.00 Non-member