Date and Time: Tuesday, November 21 – 11:00 am – 12:50 pm EST
Description: This program will provide a detailed analysis of the real estate professional 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.
Learning Objectives:
- Identify the passive activity and flow-through entity rules for “real estate professionals” and show how these situations should be reported on various tax forms.
Program Content:
- Definition, 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
Who should attend: CPAs working in public accounting firms and members in industry.
Program Level: Intermediate
Developed By: Federal Tax Workshops, Inc
Instructor: Steven C. Dilley, CPA, JD, PhD
CPE Credit: 2 hours
Field of Study: Taxes
Prerequisites: Basic knowledge of business and real estate taxation.
Advanced Preparation: None
Steven C. Dilley, CPA, JD, PhD
Steve is President of Federal Tax Workshops, Inc., where for over 40 years, he has developed and presented continuing education seminars and webinars on tax, accounting and ethics topics for accountants and attorneys throughout the country. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and has published numerous articles on these topics.
In addition, Steve is a Professor Emeritus of Accounting at Michigan State University, East Lansing, where he taught tax accounting. He has been received the “Distinguished Achievement in Accounting Education Award” in Michigan, as well as the MSU Accounting and Information Systems Department Outstanding Teacher Award.
Course materials are only available to students enrolled in the course