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Courses/Tax/NASBA - Taxes *

Real Estate Tax: Depreciation Issues & Recapture Provisions

Understanding Depreciation Recapture and Tax Implications in Real Estate Sales.

Created byDavid Peters
BeginnerUpdated Dec 1, 2024
Real Estate Tax: Depreciation Issues & Recapture Provisions

What You'll Learn

check_circleRecall the tax attributes of 1231 property.
check_circleState the tax effects of 1245 and 1250 recapture provisions.
check_circleRecognize when Sec 291 recapture might be applicable.
check_circleIdentify the tax effects of the “allowed or allowable” rule.

About This Course

The taxation of real estate can lead to some surprising results, especially when property is sold. Depreciation recapture can negatively impact a taxpayer’s taxable income in the year of the sale, leading to an unexpected tax bill.

In this course, we will use practical examples and illustrations to explore the different types of recapture provisions pertaining to real estate. We will then discuss when relief may be available for a taxpayer who forgot to take depreciation deductions in previous tax years.

Topic Areas

  • Sec 1231 Property & Lookback Rules
  • Sec 1245 Recapture Rules 
  • Sec 1250 Recapture Rules 
  • Sec 291 Recapture Rules 
  • “Allowed or Allowable” 

 

Who should attend?

Tax and financial advisors who have clients who own rental real estate

Your Instructor

David Peters
David Peters

CPA, CFP, CLU, CPCU, MST, MBA

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star2,184 reviews

David Peters is the Founder and Owner of Peters Professional Education in Richmond, VA. He is registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He brings over 20 years of experience in financial services, including three years in the hedge fund industry and six years in insurance. David was the first Chief Financial Officer of Compare.com, where he served for more than three years. He holds four master’s degrees, contributes frequently to professional publications, and is a nationally recognized CPE instructor and discussion leader for Surgent seminars and a former instructor for Don Farmer. David received the AICPA Outstanding Facilitator Award in 2021, 2023, and 2024 as well as Surgent's Outstanding Discussion Leader awards in 2019 and 2022. He also co-authored the Virginia CPA Ethics course in 2018, 2019, and 2020, which is a requirement for all CPAs licensed in Virginia. Through Peters Professional Education, David is the author and instructor for over 125 recorded on-demand CPE courses and leads private trainings, in-person tax seminars, and quarterly live tax update webinars. His areas of instruction include accounting, finance, insurance, financial planning, and ethics, and he regularly teaches professionals across the United States.

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Frequently Asked Questions

We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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