IRC § 199A for Real Estate

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Recording and Slides are Available Here

Tax reform has produced great opportunities and significant traps for the unwary. This is especially true for real estate investors and availing themselves of the Section 199A deduction. This webinar will cover the following points:

    The quantitative financial benefit provided by 199A & the basic mechanics
    • The trade or business issue, including:
    • The favorable presumption for self-rentals
    • Primary source materials which shed light on how the courts and the Service define the term
    • Consistency issues and defending Trade or Business status
    • The safe harbor for rental real estate enterprises provided in Notice 2019-07 & Notice 2019-38 which was released for publication on September 24, 2019
    • The problem with NNN leases and re-drafting agreements
    • 199A Aggregation Elections:
    • When it works v. when it does not
    • The 6-prong test to determine whether businesses can aggregate
    • The permanency of the election and whether making it is prudent
    • The election in tiered entities
    • SSTBs Self-rentals – an unfavorable rule
    • Attribution of ownership interests under 267(b) & 707(b)
    • Understanding Qualified Property, including:
    • What Qualified Property includes and what it does not
    • How Unadjusted Basis in Qualified Property (UBIA) is calculated
    • The concept of “vanishing basis”
    • Depreciation Methods & UBIA
    • The impact of accelerated cost recovery methods such as 179 deductions & bonus depreciation
    • Cost segregation
    • Capitalization v. expensing rules
    • How the seasoned practitioner can sleepwalk into a mistake,
    • Turn their thinking upside down to benefit their client, and or
    • Spin straw into gold for their clients
    • The new mathematics of using leverage in-light of 199A
    • Debt financed distributions – a trap for the unwary 199A planner
    • UBIA after 1031 & 1033 exchanges
    • UBIA maximization & estate planning
      • Planning to make a 754 election
      • Capturing the 1014(a) “step-up” in basis

      There will be no CE for this webinar

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Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler is the past Editor-in-Chief of CCH's magazine, Journal of Retirement Planning, and a member of CCH's Financial and Estate Planning Advisory Board. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals. In the past 20 years, he has received over 250 favorable private letter rulings including several key rulings of """"first impression."""" Mr. Keebler is nationally recognized as an expert in estate and retirement planning and works collaboratively with other experts on academic reviews and papers, and client matters. Mr. Keebler is the author of over 75 articles and columns and editor, author, or co-author of many books and treatises on wealth transfer and taxation, including the Warren, Gorham & Lamont of RIA treatise Esperti, Peterson and Keebler/Irrevocable Trusts: Analysis with Forms. Mr. Keebler is the Chair of the AICPA's Advanced Estate Planning Conference. He is a featured columnist for CCH's Taxes Magazine - """"Family Tax Planning Forum,"""" Bob is also a contributing author to the American Bar Association's The ABA Practical Guide to Estate Planning. Robert.Keebler@KeeblerandAssociates.com

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