Real Estate Professionals, Passive Activity and Section 199A (2 hours)

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Aug 10, 2020

Registration: 10:30 AM / Program: 11:00 AM - 1:00 PM Pacific Time

Fees

Member Fee: $79.00
Nonmember Fee: $79.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

When do they exist and how to report them? This program will provide a detailed analysis of the real estate 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. This course qualifies for PTIN credit. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Designed For

CPAs working in public accounting firms and members in industry.

Objectives

To provide a working knowledge of the passive activity and flow-through entity rules for "real estate professionals" and show how these situations should be reported on various tax forms.

Major Subjects

  • 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) 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