Business Property: Gain, Loss, and Other Issues

Study Level: Basic
Delivery Method: Online self-study
Provider of Record: WebCE
Field of Study: Taxes
Tax Year: 2018
Prerequisites:  N/A

Course Description:
This course provides an overview of the reporting requirements relating to the sale of business property. Specifically, the course covers calculating gain or loss, determining the character of the gain or loss, appropriately reporting the transactions, and how to handle special situations including installment sales, foreclosures, involuntary conversions, and like-kind exchanges.

In this course, we will discuss:

  • determining the adjusted basis, the amount realized, and calculating gain or loss upon the sale of business property
  • determining the amount, if any, of depreciation that must be recaptured
  • determining the character of any recognized gains and losses
  • how to report special situations relating to the sale of business property including installment sales, foreclosures, and involuntary conversions

Learning Objectives:
After successfully completing this course, you will be able to:

  • determine the gain or loss on the sale of business property including determining the amount realized and adjusted basis
  • determine the character of any gain or loss on the sale of business property and properly reporting the transaction including any depreciation recapture
  • properly report special situations relating to the sale of business property including installment sales, foreclosures, involuntary conversions, and like-kind exchanges

Published: March 2018