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Work with Summit to create a custom program that fits the exact needs of your audience. Contact Greg at gfowler@summit1031.com or 1-800-909-1031 for more information.
1031 Overview for Professionals
(15 min - 1 hour, CE Credits available for Oregon Realtors® if program is 1 hour minimum. CE credits in other states may be available upon request)
This brief presentation provides 1031 highlights and is customized to the audience as well as the available time slot. This short presentation is perfect for sales meetings or other similar gatherings. Program content is variable and is based on request. Topics can include a general overview of what an exchange is, common myths of 1031 exchanges, new legislation changes, or any other specific topics outlined in the topic lists shown under the basic and advanced programs listed below. This program is appropriate for a wide variety of groups, including Realtors®, lenders, financial advisors, or investors.
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1031 Exchange Basics
(2 hours - CE Credits available to Realtors® in OR, TX, MT, UT. CE Credits in other states may be available upon request.)
Designed for Realtors®, this course thoroughly covers all the basic rules and requirements of exchanges work and is intended for Realtors® and other industry professionals who are looking to expand their knowledge and use of 1031 exchange in their business (CPA’s, Attorneys, etc.). This course introduces Reverse and Construction Exchanges and touches briefly on red flags to watch out for. Recommended prior to the Advanced Issues Course. Topics include:
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Review of exchange benefits |
The Normal Exchange structure |
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History of Exchanges – including
the famous Starker Case. |
Intro to Construction Exchanges |
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Tax Rates and Tax Calculations |
Intro to Reverse Exchanges |
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Detailed discussion on qualifying real
estate, including real life situations
and methods to qualify certain properties |
Issues to be aware of |
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Identification rules & Timing requirements. |
Realtor strategies |
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1031 Basics "Plus", Intermediate Program for Realtors®
(2 hours - CE Credits available to Realtors® in OR, TX, MT, UT. CE Credits in other states may be available upon request.)
Designed for Realtors®, this course covers te same content as the Basics program at a faster speed, and adds a few more advanced topics such as vacation home qualification and developer use of 1031's. Topics include:
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Review of exchange benefits |
The Normal Exchange structure |
|
History of Exchanges – including
the famous Starker Case. |
Intro to Construction Exchanges |
|
Tax Rates and Tax Calculations |
Intro to Reverse Exchanges |
|
Detailed discussion on qualifying real
estate, including real life situations
and methods to qualify certain properties |
The Developer Scenario
Issues to be aware of |
|
Vacation Home Exchanges
Identification rules & Timing requirements. |
Realtor strategies
|
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1031 Advanced Issues
(3 Hours - CE Credits available to Realtors®in OR, TX, MT, UT. CE Credits in other states may be available upon request.)
Designed for Realtors®, this course begins with a review of exchange basics covered in the 2 hour course, but adds information on complex issues that may come into play. This course spends more time on Reverse and Construction Exchanges and then covers advanced issues and concerns with complicated exchanges. The course is intended for Realtors® and professionals who are already familiar with 1031 exchange basics and want to know how to recognize and utilize more complex transactions in their business. Topics include:
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Q&A review of exchange basics including identification, timing requirements and the normal exchange process |
Financing – Seller Financing & other considerations |
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Legislation Summary & Tax code discussion. |
Complications – Including Parking Lots, Related Parties and Partnership Issues |
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Complex Like-Kind situations – including turning houses for resale, and how to qualify Vacation Homes |
Tax Strategy Comparison – 1013 & Gifting, Developers use of 1031, TIC’s, Trusts, Foundations, Installment Notes, etc. |
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Detailed Construction Exchanges including building on property that is already owned. |
Recent Tax changes discussion |
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Detailed Reverse Exchanges, including avoidance techniques, parking replacement & relinquished property, and safe harbors
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Realtor strategies |
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1031 Combined Program for Realtors®
(4 Hours - CE Credits available to Realtors® in OR. CE credits in other states may be available upon request)
Designed for Realtors®, this course combines all he information presented in the basics and advanced classes in one session. The course is intended for Realtors® and professionals who want 4 hours of education and want to know about exchanges form beginning to end. For topics, see the lists under the Basics and Advanced programs.
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1031 For Lenders (1-2 hours, CE Credits available to Mortgage Lenders in Utah. CE credits in other states may be available, check with your specific licensing authority)
Intended to provide Mortgage Lenders and Banking professionals with a solid background of 1031 basics, this program can be customized to your audience and available time slot. Program content includes a review of the primary concerns lenders face when their clients are involved in a 1031 exchange. Learn how to prevent situations that may ruin an exchange deal and upset a client.
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1031 for Investors
(1 Hour - CE Credits available to Realtors® in OR. CE credits in other states may be available upon request)
This program is designed for real estate investors such as rental owners who want to know how to use 1031 to build wealth in Real Estate. The program starts with a basic background and then explains the tax benefits and advantages of exchanging, with illustrative examples. Realtors® frequently partner with Summit to offer this program to clients as an invitation event. Topics include:
1031 Definition & Background
- Tax Advantages
- Qualifying Property
- Basic Rules
- Types of Exchanges
- Local scenarios – Vacation Homes, Split Use, Personal Residence Exclusion
- 1031 Real Estate vs. qualified pension plan.
- Common Myths
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1031 for Developers and Builders
(1 Hour - CE Credits available to Realtors® in OR. CE credits in other states may be available upon request)
Similar to the investor program, this session is customized to the issues facing developers and builders. Although 1031 does not apply to spec homes or flipped property, there are benefits to making small changes in your business so you can use 1031 for achieving personal investment goals. This program explains the tax benefits and advantages of exchanging, and provides specific scenarios that can be utilized by those in the building or development professions. Realtors® frequently partner with Summit to offer this program to clients as an invitational event. Topics Include:
- 1031 Definition & Background
- Tax Considerations for Developers
- Qualifying Property types
- Basic Rules & Exchange Process
- Construction & Leasehold Construction Exchanges
- Developer Scenarios
- Using the personal residence exclusion
- Slowing down to make it work for you
- 1031 Real Estate vs. qualified pension plan
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1031 for Title and Escrow Professionals
(2-3 hours, CE Credits available to Title and Escrow Professionals in Texas and Utah. CE credits in other states may be available, check with your specific licensing authority for more detail)
This class explains how 1031 exhcages work and how the QI interacts with the Title and Escrow process. Depending on the location, the program duration may vary.
For additional information or to schedule a class for your office, call the following numbers:
In Texas, contact our Austin office at 1-877-877-1031 or austin@summit1031.com
In Utah, contact our SLC office at 1-800-445-6630 or bradjorgensen@summit1031.com
In any other state, contact the Corporate office at 1-800-909-1031 or afranklet@summit1031.com
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1031 for CPA’s and Tax Professionals
(4 hours - CE credit available for CPAs)
Summit CPAs Brian Stevens and Mark Neuman have developed a comprehensive Program for CPA’s. CPA's should check through their local licensing agency to find out if they can apply for CE credits. Topics Include:
- Section A - Exchange Basics:
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- Exchange History & Starker Case
- The Qualified Intermediary
- Legislation Summary - Section 1031
- Tax Savings
- Exchange Timing - Multiple Properties, Filing Extensions
- Property Identification Rules & Methods
- How a “Normal” Forward Exchange Works
- Section B – Like Kind Property & Exchange Scenarios
- Overview - Real Estate that Qualifies as Like Kind
- Personal Residence Exclusions & Conversion.
- Vacation Homes/Second Homes
- Personal Property Like-Kind Rules
- Multiple Asset exchanges
- Developed Property
- Section C – Other Exchange Structures
- Reverse Exchange Safe Harbor vs. Non Safe Harbor.
- Reverse Exchange Structures.
- Construction Exchange Structure.
- Leasehold Construction Exchange
- Section D – Calculating Depreciation, Boot, & Refinancing
- Real Estate Depreciation Calculations
- Depreciation rules under the 2004 Regulations
- Cost Segregation & Depreciation Recapture
- Estimating Depreciation for Basis Calculations
- Boot
- Personal Property Boot & the 15% Rule
- Getting Cash out of an Exchange
- Section E – Special Circumstances
- Rescinding Sales to Effectuate an Exchange
- Seller Financing Issues
- Option Agreements – Pros & Cons
- Related Parties
- Partnerships - Drop & Swap, Swap & Lift, Single Member LLCs as TIC
- TIC Overview & Thoughts.
- Section F – State Tax Issues
- State Tax Issues.
- State Tax Rate Summary
- Section G - Closing Thoughts
- 1031 vs. Pension Plan
- Form 8824 & Audits.
- Common Myths of 1031
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