Capitalized Costs and Depreciation & Taxation of Property Transactions

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  • Date/Time
    • Jun 21, 2024
    • Sign In: 8:30am (MT)
    • Program: 9:00am - 4:30pm (MT)
    • Add to Calendar
  • Location
    • KDP Conference Room
      101 S. 27th Street
      Boise, ID 83702
    • Map
  • Credits
    • 8.00
  • Credit Type(s)
    • Taxes (Technical) (8.00)
  • Prerequisites
    • None

  • Vendor
    • AICPA
  • Level
    • Beginning
  • Fields of Study
    • Taxes
  • Message
    • ATTENDING In Person


In person option is sold out - please join us virtually


The morning session: How do I treat a property transaction?

The first half of the day will be spent helping you answer this question by focusing on understanding capitalized costs and depreciation and learning about the IRS cost and repair regulations dealing with property transactions so you can help your clients optimize their tax savings. Tax professionals will also learn about the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities.

The afternnon session: What are important property-related timing issues and planning opportunities that can lead to significant tax savings?

A fundamental understanding of the taxation of business property transactions is essential to any tax practice. This course prepares tax professionals to handle the tax effects of common property transactions, including like-kind exchanges and involuntary conversions. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings.

  • Qualifies for IRS CE

This event is part of ISCPA's 2024 Tax School, designed to provide a convenient, comprehensive education about tax fundamentals for early-career tax staff in a series of courses. This series, designed for the ever-changing and complex world of tax, features high-quality presentations and an interactive, colleague-to-colleague approach to ensure participants develop the skills to apply their knew knowledge in practical settings.

Designed For

  • Public accounting staff and senior associates
  • Tax professionals in company finance or tax departments
  • Objectives

    When you complete the morning session, you will be able to:

    • Recall the initial tax basis and adjusted tax basis of business property.
    • Identify the tax basis of self-constructed assets.
    • Distinguish between deductible repairs and capitalized improvements.
    • Recall changes in the tax rules to the classification of expenditures such as materials, supplies, repairs, and improvements.
    • Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
    • Recognize which assets are considered listed property.
    • Recognize the types of purchased intangible costs that must be capitalized.

    When you complete the afternnon session, you will be able to:

    • Calculate gain or loss realized and recognized on business property dispositions.
    • Identify the tax treatment of net Section 1231 gains and net Section 1231 losses.
    • Determine the application of the Medicare contribution tax to property dispositions.
    • Recall rules for depreciation subject to recapture when property was acquired in a nontaxable exchange transaction or by gift or bequest.
    • Recall the requirements for deferring realized gain on an involuntary conversion.
    • Understand the rules dealing with like-kind exchanges and involuntary conversions, all updated for tax reform.
    • Apply proper treatment of involuntary conversions.
    • Explain the deferral of realized gain or loss on a like-kind property exchange.
    • Determine the amount of gain or loss on the sale of property.
    • Determine the character of recognized gain or loss on the disposition of business property.
    • Implement comprehensive property tax strategies to minimize taxes. 


    This stand-alone event is also part of the 2024 ISCPA Tax School, which is designed to:

    • Provide a comprehensive education about tax fundamentals for early-career tax staff in a series of courses.
    • Ensure the newest members of the tax force are well-prepared to begin their careers and support their firms.
    • Provide new staff with relevant technical and professional skills that focus on real-world issues and solutions.


    The morning session:
    • Tax basis of property acquisitions
    • Initial basis of property acquired in an exchange transaction
    • Materials, supplies, repairs, and improvements
    • Accounting method changes
    • Depreciation: MACRS, Section 179, and bonus
    • Intangible assets and amortization
    • Organization and start-up costs

    The afternoon session:

    • Sections 1231, 1245, 1250
    • Depreciation recapture
    • Capital gains and losses
    • Non-recognition transactions

    Advanced Prep

    • Manual
      • If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
      • If you did purchase a printed manual and would also like an electronic copy be sure to download it
    • Review ISCPA Parking Map - found in your email confirmation

    Register Now

    This event is currently sold out, if you would like to register on a waiting list, please contact ISCPA at 208-344-6261 or email


    William Taylor

    William (Bill) F. Taylor, CPA is a professional speaker and a CPA with a small tax and consulting practice. Bill is also an Adjunct Assistant Professor in the Masters of Business Administration program at the University of Mississippi. He recently retired as President of Renasant Bank in Water Valley, MS.

    Bill has worked in the Accounting, employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. He was awarded the AICPA Outstanding Discussion Leader award multiple times and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE . Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

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