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Understanding 1031 Exchanges: Basics and Pitfalls

CE Credits: 3.5 TuesdayOctober 17, 20239:00 am - 12:30 pm
10 S Commerce Way Bethlehem PA, 18017-8915

Why Take this Course?

Like-kind Exchanges, also known as tax deferred exchanges, are defined by Internal Revenue Code (IRC) section 1031. A 1031 Tax Deferred Exchange offers taxpayers one of the last great opportunities to build wealth and save on their taxes by deferring their capital gains. By completing a 1031 Exchange, the Taxpayer (“Exchanger”) can dispose of investment or business-use assets, acquire replacement property, and defer the tax that would ordinarily be due upon the sale. This course will explain what a 1031 exchange is, the benefits of using this tool and the requirements that must be met to qualify for the capital gains deferral.  More complex issues such as mixed-use properties, reverse exchanges and improvement exchanges will be touched on, along with the proposed federal budget’s impact on these exchanges.

Learning Objectives:

Upon completion of this session, participants will be able to:

  1.  Explain Internal Revenue Code section 1031
  2. Understand the benefits of a 1031 exchange
  3. Explain the qualifications needed to defer capital gains tax
  4. Identify like-kind exchanges.
  5. Understand the terms used in a 1031 exchange including a qualified intermediary, delayed exchange and “napkin test”
  6. Identify common pitfalls and misconceptions
  7. Understand how stocks, mortgages and depreciation are calculated in an exchange.
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David Gorenberg

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