This course is an update to the 2020 1031 Exchanges: From Simple to Complex. Attorney Dal Houston will cover exchanges from the simplest to some of the more complex exchanges. It will begin by first setting forth in simple terms how an exchange works, defining common exchange terms, then outlining in specific detail the mechanics of an exchange. After this background, Mr. Houston will identify and address some of the most commonly asked questions, issues, and misconceptions regarding exchanges. Lastly, complex exchanges will be outlined.
- Introduction to exchanges
- Simple rules for determining amount of gain and basis in replacement property
- Pitfalls to void and common questions and concerns regarding exchanges
- Strategies for selling before your purchase
- Who can act as an intermediary
- Control issues
- Reporting an exchange