Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Join Greg White, CPA, as he walks through strategies for purchasing real estate, including written allocation provisions. Greg will discuss how to break out the purchase price apportioned to improvements into its components: building, land improvements and personal property. We’ll take a deep dive into claiming bonus depreciation, section 179 and de minimis deductions on real estate. We’ll also cover financing considerations, including whether to elect out of section 163(j); both the costs and the benefits.
Publication Date: June 2023
Designed For
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Topics Covered
- Apportionment of purchase price
- Bonus depreciation, section 179 and de minimis expensing for real estate
- Purchasing interests in a qualified opportunity fund
- Financing considerations, including whether clients should make the real property election out of section 163(j)
Learning Objectives
- Recognize the mechanics of apportioning purchase price as part of a purchase and sales agreement
- Identify property that qualifies for bonus depreciation, section 179 and de minimis expensing
- Recognize how to make the election out of section 163(j) for real property businesses
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.