STEP Silicon Valley: Giving and Taking Basis: Tax Planning With Partnerships 2019 | The Society of Trust and Estate Practitioners | 13 November 2019 | Pillsbury Winthrop Shaw Pittman LLP, 2550 Hanover St, Palo Alto, CA 94304, USA
Venue
Pillsbury Winthrop Shaw Pittman LLP
Pillsbury Winthrop Shaw Pittman LLP, 2550 Hanover St, Palo Alto, CA 94304, USA
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| Event Date |
Wed Nov 13 PST (about 5 years ago)
In your timezone (EST): Wed Nov 13 8:30pm - Wed Nov 13 10:30pm |
| Location |
Pillsbury Winthrop Shaw Pittman LLP
2550 Hanover St, Palo Alto, CA 94304, USA |
| Region | Americas |
Details
Rather than waiting for the income tax-free step-up in basis at death, individuals may prefer to sell an appreciated asset while they are living.
The first part of the presentation will first review the fundamental partnership income tax principles that are used in the planning techniques. The materials will then describe the application of these principles to shift basis from an asset one does not intend to sell to an appreciated asset one desires to sell in the future. The presentation will then examine how shifting basis can be used to defer the reporting of the phantom gain existing in appreciated real estate where mortgage liabilities exceed adjusted tax basis. The remaining material will examine how the installment sale of a partnership interest can be used to defer the reporting of gain realized when the partnership sells marketable securities for cash.
Speakers
2019 Speaker
Jerry Hesch
Esq., Adjunct Professor of Law