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Webcast

Form 4797 – Hands On: Emphasizing Sales of Business & Rental Real Estate

Comprehensive guide for Form 4797 and Business Asset Reporting. Transform complex real estate transactions into accurate tax filings while mastering recapture calculations and disposition elections.

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$98.00

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Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

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CPE Credits

2 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

Navigating the complexities of Form 4797 for reporting business asset transactions is a daunting task for many tax professionals. The intricate details of Code Sections 1231, 1245, 1250, and 197, and the challenges of accurately reporting sales of business assets and real estate, often lead to confusion and potential errors. This comprehensive real estate accounting course offers a robust solution to these challenges. It provides an in-depth understanding of each section of Form 4797, enabling participants to accurately report complex accounting for real estate  transactions. The online CPE real estate course expertly guides tax professionals through the intricacies of computing Section 1250 recapture and unrecapture, identifying ordinary income under Sections 1245 and 1250, and making Partial Disposition elections. By demystifying these complex areas, this real estate accounting course equips participants with the skills and confidence to ensure accuracy and compliance in their tax practice, making them invaluable assets in managing intricate tax scenarios.

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Learning Objectives

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

  • Understand Code Section 1231, 1245 and 1250 transactions
  • Correctly report the sale of business assets and real estate
  • Compute both Section 1250 recapture and unrecapture
  • Identify when gain is ordinary income under Section 1245 or 1250
  • Understand how to make a Partial Disposition election
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Course Specifics

Course ID
WC1823324586
Revision Date
February 15, 2023
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02605-24-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1892
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

Alice Orzechowski, CPA, CMA, EA

Alice Orzechowski, CPA, CMA, EA, was born and raised in Washington, DC. She holds BS degrees in Economics and Accounting from the University of Maryland, and an MS in Administration and Management from Hood College. She is licensed as a Certified Public Accountant, Certified Management Accountant, and Enrolled Agent. Alice has provided advice on tax-related matters in The Washington Post, The Frederick News Post, in various AARP publications, and on Wall Street Journal Radio, CNN, and Today’s Woman Television and is a national speaker on tax topics. Alice earned the CPA accreditation in 1976, and over the course of her …

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