DESIGNED FOR
CPAs in public practice and members in industry.
BENEFITS
After attending this presentation you will be able to...
- Demonstrate a working knowledge of the passive activity and flow-through entity rules for "self-rental property"
- Show how these situations should be reported on various tax forms
HIGHLIGHTS
The major topics covered in this class include:
- Definition of self-rental property, both Sections 199A and 469
- Self-rental income from directly owned properties and reporting on Form 1040, Schedule E, page 1
- Self-rental income from indirectly owned (partnerships, S corporations) and reporting on Form 1040, Schedule E, page 2
- Self-rental property and the Form 8582 (passive activity)
- Self-rental property and the flow-through entity grouping election
- Several real-life situations illustrate the various possibilities and discuss the consequences of failing to comply with the reporting standards
- Self-rental property and "former passive activities" rules
PREREQUISITES
Basic working knowledge of real estate taxation.
ADVANCE PREPARATION
None