Determining Basis of Gifted Assets: Passive Loss Carryovers, Spousal Transfers, Gifts of Loss Property
A live 110-minute CPE webinar with interactive Q&A
This webinar will review the rules for basis determinations for gifted assets. Our panel of transfer tax experts will provide examples of calculating gains and losses on gifted property dispositions in unique but common scenarios and point out missteps to avoid when making lifetime gifts.
Outline
- Basis rules for gifts: introduction
- Appreciated property
- Passive activity losses
- Loss property
- Transfers between spouses
- Part sales, part gift transfers
- Other gifts
- Planning strategies
- Potential legislation
Benefits
The panel will review these and other critical issues:
- The basis rules for loss property that is gifted
- Planning strategies to minimize tax on gifted assets
- How the rules for transfer by gift vary for spouses
- The impact of potential legislation on gifts and gift strategies
Faculty
Neal B. Jannol
Attorney
Law Offices of Neal B. Jannol
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more... | Read More
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more than 20 years and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. His experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California and is a Certified Specialist in Estate Planning, Trust & Probate Law. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.
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Matthew E. Rappaport, Esq., LL.M.
Vice Managing Partner
Falcon Rappaport & Berkman
Mr. Rappaport chairs FRB’s Taxation and Private Client Groups. He concentrates his practice in Taxation... | Read More
Mr. Rappaport chairs FRB’s Taxation and Private Client Groups. He concentrates his practice in Taxation as it relates to Real Estate, Closely Held Businesses, Private Equity Funds, Family Offices and Trusts & Estates. He advises clients regarding tax planning, structuring, and compliance for commercial real estate projects, all stages of the business life cycle, generational wealth transfer, family business succession, and executive compensation. Mr. Rappaport also collaborates with other attorneys, accountants, financial advisors, bankers, and insurance professionals when they encounter matters requiring a threshold level of tax law expertise. He is known for his work on complex deals involving advanced tax considerations, such as Section 1031 Exchanges, the Qualified Opportunity Zone Program, Freeze Partnerships, Private Equity Mergers & Acquisitions, and Qualified Small Business Stock. Mr. Rappaport has served as a trusted advisor for prominent real estate funds, executives of multinational corporations, venture capitalists, successful startup businesses, ultra-high net worth families, and clients seeking creative solutions to seemingly intractable problems requiring tax-focused analysis.
CloseCPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
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NASBA details.
