This program provides a detailed analysis of the real estate passive activity rules, including forms reporting examples, and integrates those rules when real estate is considered a “business” under the Section 199A flow-through entity deduction.
* To provide a working knowledge of the passive activity rules for "real estate professionals" and show how these situations should be reported on various tax forms
* Definition of a real estate professional * Pros and cons of being a real estate professional * 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 * Several real-life situations illustrating the various possibilities and the consequences of failing to comply with the real estate professional standards * Real estate professionals and the "former passive activities" rules
Who Should Attend
CPAs working in public accounting firms and members in industry
Basic working knowledge of real estate taxation.
Additional Event Information
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