Explore the intricacies of federal income taxation as it intertwines with rental real estate activities. This course delves into the calculation of rental income, understanding the nuances of deductions, and unraveling the complexities of passive activity loss rules. Whether it's mastering Schedule E or understanding Congress' intent behind tax laws, professionals will leave with an enriched understanding.
Target Audience
Accounting and finance professionals seeking a comprehensive understanding of the intersections between rental real estate and federal income taxation
Course Objectives
Effectively compute rental income and expenses
Decode the implications of renting out vacation homes
Navigate different tax forms including Schedule E and Schedule A
Unravel the complexities of passive activity loss rules and their foundational reasoning
Differentiate between active and material participation
Understand the nuances in grouping passive activities for tax purposes
Navigate the primary limitations on deductibility of passive losses
Dive into the influence of at-risk rules on deductions and taxable income
Recognize when and how real estate activities are classified as active businesses
Identify scenarios for applying individual investor exceptions in passive activity loss rules
Analyze Section 199A QBI deduction and safe harbor rules for real estate professionals
Subjects
Rental income and expense calculation and reporting
Deciphering Schedule E (Form 1040)
Nuances of vacation home rules
Passive activity loss rules: foundations and implications
Active vs. material participation in rental activities
Tax reporting: how to group passive activities
Limitations on passive losses: at-risk rules and deductions
Classifying rental real estate activities
Navigating exceptions in rental real estate taxation
