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Description: This program presents a detailed analysis of the self-rental passive activity rules, including forms reporting examples and integrates them with the flow-through entity rules related to self-rental.

Learning Objectives: To provide a working knowledge of the passive activity and flow-through entity rules for “self-rental property” and show how these situations should be reported on various tax forms.

Program Content:

  • Definition of self-rental property – both for Sections 199A and 469
  • Self-rental income from directly owned properties and reporting on Form 1040, Schedule E, page 1
  • Self-rental income from indirectly owned (partnerships, S corporations) and reporting on Form 1040, Schedule E, page 2
  • Self-rental property and the Form 8582 (passive activity)
  • Self-rental property and the flow-through entity grouping election
  • Several real-life situations illustrate the various possibilities and discuss the consequences of failing to comply with the reporting standards
  • Self-rental property and “former passive activities” rules

Who should attend: CPAs working in public accounting and members in industry.

Program Level: Intermediate

Developed By: Federal Tax Workshops, Inc

Instructor: Steven C. Dilley, CPA, JD, PhD

CPE Credit: 2.5 hours

Note: This course qualifies for PTIN credit.

Field of Study: Taxation

Prerequisites: Basic working knowledge of Section 199A 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.