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Taxation of Like-Kind Exchanges and Other Sales

  • ITEM SKU
    6580
  • CPE Hours
    10
  • Full Course Price
    $74.50
Exam Questions: 50
Course Level: Basic
Pages: 212 | Content: 188, Supplemental: 24
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 6580M

This course is designed to help the accountant to properly record the sale and dispositions of various types of assets. It covers sales and exchanges, abandonments, foreclosures and repossessions, and involuntary conversions. Like-kind exchanges and installment sales are also discussed. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00573-24-S

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Course Information

Table of Contents
  • Gain or Loss
  • Nontaxable Exchanges
  • Ordinary or Capital Gain or Loss
  • Ordinary or Capital Gain or Loss for Business Property
  • Reporting Gains and Losses
  • Installment Sales
Objectives
  • To identify how to figure a gain or loss on various kinds of transactions
  • To recognize what type of exchanges are not taxable and when a gain or loss is recognized on this type of transaction
  • To recognize how to classify gains and losses as either ordinary or capital
  • To identify when to classify capital losses as either short-term or long-term
  • To identify what Section 1231 gains and losses are
  • To recognize how to account for depreciation recapture
  • To recognize how to report capital and ordinary gains and losses from sales, exchanges, and other dispositions of property
  • To identify the general rules that apply to all installment sales, and the more complex rules that apply only when certain conditions exist or certain types of property are sold

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.