Selling a Principal Residence Webcast | 4173327B

Date :
October 30, 2017 9:30 AM - 10:30 AM
Location :
Facility :
Webcast Rebroadcast
Level of Difficulty :
Member Price :
Nonmember Price :
CPE Credits :
CPE 1.00, IRS-TX 1.00, CTEC-TX 1.00
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The sale of a personal residence with a gain can be subject to favorable tax treatment. Focus on a special rule that is available for the sale of a principal residence. The calculation of the potential gain or loss will be discussed. Qualification for the favorable gain exclusion will be explained. Special facts related to the ownership and use of the residence will be identified and their consequence evaluated. Discuss the sale of a personal residence at a loss during this session. Plus, identify and evaluate tax planning ideas and strategies.

Materials are provided as an ebook for this course.


  • Consider the law which determines the calculation of the recognized gain or loss.
  • Explain the requirements that must be satisfied to be eligible for the exclusion.
  • Identify the significance of special facts related to ownership and use of the residence.
  • Determine the amount of the exclusion.
  • Evaluate the tax considerations related to the sale of a personal residence at a loss.
  • Identify and evaluate tax planning strategies.

Major Subjects:

  • Determination of the gain from the sale of a principal residence
  • Explanation of the requirement that must be satisfied to be eligible for the exclusion including consideration of special ownership and use situations
  • Calculation of the amount of the exclusion
  • Tax considerations if the personal residence is sold at a loss
  • Tax planning ideas and strategies

Advanced Prep:


Misc. Information:

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Level of Difficulty:
Field of Interest:

Understanding of the federal income tax law as applied to individuals.

Designed For:

CPAs, lawyers and other advisers who offer tax and personal financial advice to individuals.


John G McWilliams, CPA, Esq, Esq.

John McWilliams, CPA, Esq. is professor of accounting at Golden Gate University. Previously he was a professor of accounting at San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 30 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. His areas of expertise include tax issues related to buying and selling privately-held businesses, financially-troubled businesses, business restructuring and reorganization, and ownership succession to employees or family members.

McWilliams has been active in CalCPA, having served as president of the San Francisco Chapter, chair of the Financial Literacy Initiative, member of the CalCPA Board of Directors serving as Vice Chair, and member of the Accounting Education Committee. He has served as a California representative to the AICPA Council, and as a member of two AICPA Tax Division Technical Resource Panels (Corporations, and Shareholders and Partnerships). McWilliams is the original author of two chapters of the CCH Expert Treatise Library: “Federal Taxation of Corporations,” and “Shareholders.”

No Agenda or Materials posted.