This program presents a detailed analysis of the self-rental passive activity rules, including forms reporting examples and integrates them with the flow-through entity rules related to self-rental. This course qualifies for PTIN credit.
CPAs working in public accounting and members in industry.
To provide a working knowledge of the passive activity and flow-through entity rules for "self-rental property" and show how these situations should be reported on various tax forms.
- Definition of self-rental property
- 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