The taxation of real estate is tricky. Taxpayers can own real estate in a number of different ways, including direct and indirect investments. There are numerous exceptions to being classified as a rental activity too. How do you know if someone is a real estate professional? In this course, we will explore all these issues and many more! Through real-world examples and discussion, this episode in our Lifecycle Financial Planning series will delve into exceptions to rental status, qualifications for material participation, and requirements for active status. Additionally, we will cover the QBI and Section 1237 safe harbors and touch on some planning ideas related to depreciation recapture. In other words, you’ll walk away with lots of exceptions and planning ideas for your real estate clients!
Required Knowledge: None
Advanced Preparation: None
Who Should Attend: Tax and financial advisors who have clients who own rental real estate