Real Estate Tax Issues: Passive Activity, Self-Rental and Section 199A
Overview
This program will provide a detailed analysis of the real estate professional passive activity rules, including forms reporting examples, and integrates those rules with when real estate is considered a "business" under the Section 199A flow-through entity deduction. A detailed analysis of the self-rental passive activity rules will be given, including forms reporting examples and integrates them with the flow-through entity rules related to self-rental.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate
Highlights
- Integration of the real estate professional rules with reporting on Form 1040, Schedule E
Real estate professionals and indirectly owned (partnerships, S corporations) entity's reporting on Form 1040 - How "real estate business" is interpreted under the Section 199A rules and how it integrates with the passive activity rules
- Real estate professionals and the Form 8582 (Passive Activities)
- How to make the "grouping" election for passive activities and the flow-through deduction
- Definition of self-rental property - both for Sections 199A and 469
- Reporting using Form 1040, Schedule E, page 1 and 2
- Self-rental property and the Form 8582 (passive activity)
Prerequisites
Basic working knowledge of individual and business taxation
Designed For
CPAs working in public accounting and members in industry
Objectives
- Identify the passive activity and flow-through entity rules for real estate professionals and self-rental property and show how these situations should be reported on various tax forms
- To provide an in-depth discussion of the deduction for income from flow-through for real estate professionals and self-rental property
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, CPA Crossings, LLC
Steve Dilley is President of Federal Tax Workshops, Inc. He is nationally known speaker and author on financial, accounting, and tax problems of the closely held business and individual taxpayers. Steve obtained his undergraduate accounting degree, PhD in accounting, and law degree from the University of Wisconsin-Madison and is a retired Professor of Accounting at Michigan State University. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Non-Member Price $159.00
Member Price $129.00