Sales and Exchange of Capital Assets

This course for tax professionals contains four and a half hours of educational content on the sale and exchange of capital assets. The following topics are covered in this course:

• Basis of Property
  • A segment of this course describes the concept of the taxable basis of a piece of property. This segment also examines how basis is adjusted and how basis can be determined from something other than the asset’s purchase price.
• Sale of Property
  • A segment of this course explores the tax implications and consequences of selling property. This segment talks about how to calculate gain or loss from a sale of investment property, identify if a trade will result in a taxable gain or deductible loss, determine if a loss is a capital or ordinary gain or loss, calculate the amount of any recoveries, and rollover capital gain associated with qualified small business stock.
• Selling a Home
  • A segment of the course looks at the taxation of home sales. This segment addresses whether a home sale does or does not qualify for exclusion of gain and how to calculate and report gain or loss from the sale of a home.
• Reporting Capital Gains and Losses
  • A segment of this course talks about how capital gains and losses are reported to the IRS.

Course ID(s): UUBXU-T-00078-25-S

Approved By: International Revenue Service (IRS)