Review of assets that qualify for stepped-up or a stepped-down basis. In addition, an overview of valuation methods and depreciation issues related to the assets. Is there a difference between a farmer who materially participates and who is a non-material participating farmer. How is ownership basis affected? Reporting for the decedent, estate and beneficiary guidance. The discussion will focus on the tax professional and the issues they face with specific situations. Please see agenda for the full outline of topics.
July 24, 2017 - Noon to 2 PM - 2 hours of CPE
Death of a Farmer
► To register: https://goo.gl/HXsuzx
Who should attend:
Please consult your state’s accrediting agency/board for its rules on admissibility of this course. It is the responsibility of the attendee to understand and comply with state licensing CPE/CLE requirements.
Kurt Konek brings more than 23 years of certified public accounting experience to his teaching. He has most recently taught at the 43rd Annual Federal Income Tax Schools. His CPA firm, Konek, PC, has offices in Prairie City, Sully, Boone, West Des Moines, and Newton. Kurt is a member of the AICPA and is a designated Chartered Global Management Accountant. He also serves as Chair of the Taxation Committee of the Iowa Society of CPAs. Kurt is a graduate of Iowa State University.
Kristy Maitre is the tax specialist at ISU’s Center for Agricultural Law & Taxation. Prior to joining CALT, Kristy worked for the Internal Revenue Service for 27 years. Before retiring from the IRS in 2014, Kristy was serving as the IRS Senior Stakeholder Liaison for the State of Iowa. At CALT, Kristy conducts frequent webinars and seminars on a variety of tax topics. She also instructs practitioners through her writings on TaxPlace and her free bi-weekly webinar, The Scoop: Hot Issues from the Front Lines.
CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.