Webinar - Negative Basis Partnership Freeze

Date: Wednesday, March 8, 2017
Time: 12:45pm - 2:30pm
Location: TCI Wealth Advisors, Inc. 4011 E. Sunrise Dr.
Speaker: Jerome M. Hesch, MBA, JD, AEPĀ® (Distinguished)

12:45 – 1:00

Please feel free to bring your lunch to eat during this time and/or during the webinar.

1:00 - 2:00

2:00 - 2:30

Post webinar discussion amongst attendees is encouraged.

Anyone who is attending is welcome to volunteer to facilitate the discussion.


1 hour of continuing education credit



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When real estate is encumbered by mortgage liabilities in excess of its income tax basis, a lifetime transfer, either by sale or by gift, causes the taxpayer to report phantom income. This intermediate webinar will first evaluate how to eliminate the phantom gain at death and still implement an estate tax freeze using the preferred partnership structure. The second part will examine how one can defer the reporting of the phantom gain if a lifetime sale of the negative basis real estate is contemplated. The income tax deferral will become even more important if there is no estate tax and no income tax-free step-up in basis at death. It is recommended that participants have an understanding of the income tax issues that arise when an asset subject to liabilities is either sold or disposed of by a lifetime gift.  

Jerome M. Hesch, MBA, JD, AEP® (Distinguished) is the Director of the Notre Dame Tax & Estate Planning Institute, an Adjunct Professor of Law at Florida International University, University of Miami, Vanderbilt University, and Boston University On-Line LL.M. Program.

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