2024 Real Estate Professionals: Passive Activity Rules
Overview
When do they exist and how to report them? 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.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Highlights
- 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
Prerequisites
Basic working knowledge of business and real estate taxation
Designed For
CPAs working in public accounting firms and members in industry
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
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
Steven Dilley PhD, Federal Tax Workshops Inc
Steven C. Dilley is a professor at Michigan State University where he teaches tax accounting. He obtained his PhD in accounting from the University of Wisconsin-Madison in 1972. In 1969 he also received a law degree and an undergraduate accounting degree from UW-Madison. He is a member of the Wisconsin Bar Association, the American Bar Association, the Wisconsin Institute of CPAs, the Michigan Association of CPAs, the American Accounting Association, the American Institute of CPAs, the American Taxation Association, and the Hawaii Association of Public Accountants. Steve is the President of the Federal Tax Workshops, Inc. This organization prepares continuing education materials and presents continuing education programs for accountants and attorneys throughout the United States. Steve is nationally known for his knowledge of taxation in general and especially for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on those topics.
Non-Member Price $109.00
Member Price $79.00