Real Estate Professionals, Passive Activity and Section 199A
2.00 Credits
Member Price $89
Non-Member Price $109
Overview
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. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics covered in this class include:
- 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
Prerequisites
Basic working knowledge of real estate taxation.
Designed For
CPAs working in public accounting firms and members in industry.
Objectives
After attending this presentation you will be able to...
- Apply the passive activity and flow-through entity rules for real estate professionals and show how these situations should be reported on various tax forms
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, Federal Tax Workshops
Steven C. Dilley, CPA, JD, PhD, is president of Federal Tax Workshops, Inc., located in East Lansing, Michigan. He is nationally known for his knowledge of the financial, accounting and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics. In addition, Steve is a professor of accounting at Michigan State University, where he teaches tax accounting and has recently received two teaching awards. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, the American Accounting Association, AICPA, American Tax Association and Hawaii Association of Public Accountants.
Non-Member Price $109
Member Price $89