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Passive Activities & Rental Real Estate Income Tax Issues

8:30 am–4:15 pm ET

# of CPE Credits

8

Description

This comprehensive training is designed to get the accountant up-to-speed quickly with the complex passive activity loss (PAL) rules that apply to certain investments in trades or businesses and rental activities. The cornerstone of the course is the in-depth coverage of the detailed tax law and regulations applicable to passive activities under IRC §469 and how and when the 3.8% net investment income tax under §1411 applies.

Objective

Once participants have completed this session they should be able to * Identify what activities are subject to the PAL rules and the exceptions to them including those for certain real estate professionals * Define a passive activity, rental, and trade or business under IRC §469 * List the seven ways to materially participate in an activity and the six exceptions to the definition of a rental activity * Calculate the passive activity income and losses allowed and the tax ramifications of passive activity dispositions * Recognize what passive activity investments are potentially subject to the 3.8% net investment income tax under IRC §1411

Highlights

* Each attendee will receive the most comprehensive passive activity reference manual with numerous practice aids and real-world examples * Topics include but are not limited to * Detailed coverage of the Tax Cuts & Jobs Act (TCJA) affecting passive activities and rental real estate (i.e., new 20% qualified business income deduction (QBI)) * How the PAL rules apply to rental real estate activities and investments in S Corporations and partnerships * How the 3.8% net investment income tax under §1411 applies to passive activities * Definition of an activity and the activity grouping and disclosure rules * Real estate professional exception to the PAL rules for investments in nonpassive rentals * Special $25,000 loss allowance for rental real estate with active participation * Material participation safe harbor rules * Events that trigger suspended PALs * Limitations on tax credits generated by passive activities * Special rules that recharacterize passive income to nonpassive income

Who Should Attend

Tax professionals who need an in-depth training course on the passive activity loss rules and how they apply to certain investments in trades or businesses and rental activities.

Required Knowledge

None

Advanced Prep

None

Event Speaker(s)

J. Patrick Garverick ( Garverick CPE, Goodyear, AZ ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at onlinelearning@ncacpa.org, and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at support@peachnewmedia.com.

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.

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Share This Event

Event Vendor:Phoenix Beach, LLC
Field of Study:Taxes
Level: Intermediate
Other:New Course

Event Type:Webcast
Event Code:W0009619

Registration Fees

Registration Fee Early Bird Regular
NCACPA Member N/A $280.00
Non-Member N/A $380.00
CPE Sponsors LogoThe National Registry of CPE Sponsors is a program offered by the National Association of State Boards of Accountancy (NASBA) to recognize CPE program sponsors who provide continuing professional education (CPE) programs in accordance with nationally recognized standards. The North Carolina Association of Certified Public Accountants is registered with NASBA as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800- 469-1352.