TAX ASPECTS OF REAL ESTATE TRANSACTIONS

This program will consider three principal aspects of real estate taxation -- Section 1031 exchanges, real estate partnerships, and capital gains.

• The exchange component will consider current hot issues in exchanges, TICs (tenancies in common), designation and acquisition issues, and partnership exchanges.
• The partnership component will consider issues of basic partnership taxation -- including organizational issues, contributions, income and loss flow-through, drafting allocations, liabilities, basis, distributions, disguised sales, tax termination, and partnership liquidation.
• The capital gains component will consider when real estate is a capital or a noncapital asset, the concept of "dealer," depreciation recapture, and the 25% maximum tax rate on unrecaptured Section 1250 gain.

MICHELLE M. HENKEL, Chair, Atlanta Bar Association Tax Section, Alston & Bird LLP, Atlanta, GA

CHARLES E. HODGES II, Chair, State Bar of Georgia Taxation Law Section, Chamberlain, Hrdlicka, White, Williams & Martin, Atlanta, GA

REBECCA I. ROSENBERG, Vice Chair—Tax CLE on the Road, American Bar Association Section of Taxation, Professional Services Committee, Caplin & Drysdale, Chartered, Washington, DC