Sale of a Principal Residence (Completed)

Date: Wednesday, November 6, 2019
Instructor: Annette Nellen
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

While the basic concept for the gain exclusion for sale of a residence is fairly straightforward, there are numerous definitions, effective dates and special rules that can make any transaction complex.

This program covers the basics of Code Section 121 on the gain exclusion rule, along with the definitions.

Who Should Attend
Practitioners looking to gain knowledge regarding the exclusion rule of Code Section 121.

Topics Covered

  • Special rules for when a home has also been rented or remodeled or the requisite ownership period is not met
  • Individuals who own multiple homes or who have a change in marital status
  • Special definitions and rules
  • Tax planning possibilities
  • How to avoid mistakes

Learning Objectives

  • Recognize how to apply the gain exclusion rule of Code Section 121
  • Develop a checklist to aid in application of the gain exclusion rule

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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