WEBINAR: IRC § 121 & the Primary Residence - E3S5R-T-00950-25-O
2 Hour Tax (Federal); IRS:
Course Description: The §121 exclusion provides a powerful tax benefit for homeowners, allowing them to exclude up to $250,000 ($500,000 for married couples filing jointly) of capital gains on the sale of their primary residence. While the general rules seem straightforward, unique situations can make applying this exclusion more complex. To reinforce key concepts, this session will include case studies to walk through real-world scenarios, illustrating how to apply the exclusion (including partial exclusions) and the eligibility requirements. Bonus: We will also discuss issues surrounding AirBnB.
Learning Objectives:
- Inspect provisions of IRC § 121
- Interpret ownership and use test
- Calculate Gain or Loss associated with the primary residence
- Review amounts realized and basis
- Reporting the Sale
- Define what a residence is
- Examine multiple residences
- Distinguish qualified and non-qualified use
- Determine depreciation recapture
- Explore unforeseen circumstances and predict planning issues
Registration Options
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Registration Options
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Credits | Price |
|---|---|---|
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Member
Registration Ends 8/20/25 at 12:30 PM EDT
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2.00 (Tax (Federal)) | $59.00 |
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Non-Member
Registration Ends 8/20/25 at 12:30 PM EDT
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2.00 (Tax (Federal)) | $89.00 |
Allan J. Reynolds, EA
A.J. is an enrolled agent (EA) with over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. specializes in IRS Audits, Appeals, Collections, Innocent Spouse, Independent Contractor vs. Employee Issues, and Civil Tax Fraud Representations. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives.
Based in Sioux City, Iowa, A.J. nevertheless brings his everyday “in the trenches” experience to seminars nationally and internationally to assist attendees with real issues affecting tax professionals. A.J. has spoken Basics + Beyond Income Tax Seminars and Webinars, NATP National Conference and Webinars, NAEA Webinars, NTI Resort Conferences, and Iowa State University Webinars and Annual Tax Seminars.
A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving for five years in the United States Navy onboard the Guided Missile Destroyer USS Callaghan. During his time on the destroyer, A.J. and crew members were awarded the Navy Expeditionary Medal for their work in the Straits of Hormuz off the coast of Iran.
Outside of his tax practice, he is a member of the Diocese of Sioux City Priests’ Pension & Welfare Board and the Investment Advisory Board for the Diocese. When not working, his time is spent in various activities, including traveling with his wife and their two children.
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For More Information:
150 Corporate Center Drive Suite 205Camp Hill, Pennsylvania 17011
United States 800.270.3352