This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- The post-TCJA rule restricting §1031 exchanges exclusively to real property held for business or investment.

- The non-negotiable 45-day identification period and 180-day exchange period for deferred exchanges.

- How to calculate the recognized gain, which is the lesser of the boot received or the realized gain.

- The correct formula for determining the basis of the new replacement property by subtracting the deferred gain from its fair market value.

- The mandatory role of a qualified intermediary in holding sale proceeds to avoid constructive receipt.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep