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Tax Treatment of Appreciated Property Donation - Webinar

  • ID: 4448866
  • Webinar
  • February 2018
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
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Gain a better understanding of how to handle the taxation of appreciated property gifted to a nonprofit.

The donation of appreciated property can significantly benefit donors and charities, but involves an entanglement of tax rules on donations. With the 2017 Tax Cut and Jobs Act limiting other deductions, charitable deductions gain greater importance as a tax reduction tool. This topic will cover charitable tax reduction planning strategies and working with the deduction limitations. Special concerns covered will include charitable remainder trusts, bargain sales, and the 170(m) exception to self created intellectual property

Learning Objectives
  • You will be able to review the general limits affecting appreciated property.
  • You will be able to define pass through entities.
  • You will be able to discuss substantiation basics.
  • You will be able to identify applicable penalties.
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Overview
  • General Incentives for Donating Appreciated Property
  • Use of Charitable Remainder Trusts
General Limits Affecting Appreciated Property
  • 50% (60%) Charities
  • 30% Charities
  • Capital Gain Properties General Limit
  • 30% Limit
  • 20% Limit
  • Impact of 2017 Tax Cut and Jobs Act
  • Change in Limit
  • Change in Standard Deduction
  • Additional Appreciated Property Limits
  • Ordinary Income Reduction
  • Special Capital Gain Limits
  • Partial Limit - Inventory/Depreciable Property
  • Section 1256 - Mark to Market Rule
  • Zero Coupon Bonds
  • Options/Commodities Futures
  • Corporate Limitation
  • 5-Year Carry-Over Rule
Pass-Through Entities - Appreciated Property
  • S Corporations
  • Basis Adjustment (1367(a)(2))
  • Timing of Deduction
  • Partnerships (Rev. Rul. 96-11)
Substantiation Basics
  • Estate/Gift Tax Returns
  • Income Tax Returns
  • Dollar Thresholds
Qualified Appraisal Requirements
  • Overview
  • Notice 2006-96
  • Appraiser's Perspective
  • Substantial Compliance Requirement
  • Elements of Substantial Compliance
  • Mohamed v. Commissioner
Examples and Issues
  • Stock
  • Real Estate
  • Bargain Sale Rule
  • Fractional Interests
  • Artwork, Jewelry and Collections
  • Intellectual Property
  • Copyrights
  • Patents
Applicable Penalties

Penalty Avoidance/Defenses
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Cameron L. Hess, Esq., CPA, MBT - Wagner Kirkman Blaine Klomparens & Youmans LLP
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This webinar is designed for accountants, CPAs, executive directors, officers, board members, controllers, CFOs, tax managers and bookkeepers.
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