Code § 199A Safe Harbor for Rental Real Estate; Partnership Issues; Sale of Intangible Assets

4.2 (83)

Steve Gorin, CPA

Thompson Coburn LLP

  • CPA
  • EA
  • CTEC
  • TAX PROS
  • AFSP

Credits: 1.5 CPE | 1 CE

$15

Subject Area

Taxes

Webinar Qualifies For

1.5 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Oregon Tax Preparers

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Before starting this self study program, please go through the instructional document.

Overview

  • Rental Real Estate as a Qualified Business Income under Code § 199A02 mins
  • Planning tips for Real Estate businesses3 mins
  • Recent developments in partnership tax structuring38 mins
  • Income taxation of intellectual property and other intangibles in the light of 2017 tax reform39 mins
  • Partnership Structure - regulations discussing employee vs. partner in a tiered structure40 mins
  • Partnership structure - nature of interest expense when a partnership interest changes hands49 mins
  • Effect of changes on the inside basis when an interest in a tiered structure changes hands56 mins
  • Intellectual property post-2017 Tax law changes62 mins
  • How the treatment of goodwill differs from Intellectual Property66 mins
  • Query session74 mins

Course Description

The IRS issued a long-awaited safe harbor for when real estate rental qualifies as a trade or business for purposes of the 20% deduction for qualified business income under IRC § 199A. We will review the rules for rental under Code § 199A and explain how the new safe harbor fits into the framework. We will explore a smattering of recent developments in partnership tax, such as final regulations discussing employee vs. partner in tiered structures, the nature of interest expense when a partnership interest changes hands, and the effect of changes on inside basis when an interest in a tiered structure changes hands. Finally, we will discuss the income taxation of intellectual property and other intangibles in light of 2017 tax reform.

Learning Objectives

  • Strategy for qualifying real estate rental as a trade or business under IRC § 199A independent of the safe harbor.
  • How the new safe harbor for real estate changed from its proposed terms and the extent to which the safe harbor helps.
  • How recently finalized regulations treat compensatory payments from disregarded entities to partners in the parent partnership.
  • What those regulations intentionally did not address that provide opportunities for tiered partnership structures.
  • How to determine the deductibility of interest expense incurred by a partnership and how distributions from a partnership affect that determination.

Who Should Attend?

  • Accountant

Testimonial

4.2

(83)
48%
30%
17%
4%
1%

ET

This course really gave me a lot of information in a short period of time. Condensed but not too heavy. Clear and well presented. At no point was I bored or feeling like he rushed too quick

DH

The information was presented at a reasonable pace. The displays were easy to read, very informative and answered any questions, which came to mind . Also, really love the manual and the wealth of information provided

RB

The presenter was very lively and gave us many examples of issues to help show us the material in a way we can apply it. Steve explained so we could easily understand the subject matter.

JW

The webinar was more to the point than the live classes I have been to. I was able to attend this webinar on my phone while commuting! I’m glad that this webinar functioned well on my phone as it functions on my laptop.

JB

Very informative webinar. The material was well presented and and certainly clarified many questions on a little-known but valuable subjects ! I also liked the entire query session.

DM

I am thoroughly impressed with Mr. Steve's knowledge and his generosity in sharing it. The topics coverage was very complete.