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The ISCPA office will close at 2 p.m. on Nov. 27 and will be closed Nov. 28-29 for the Thanksgiving holiday. For questions on CPE access during our short break, refer to your email confirmation or the webcast resources page.

Real Estate Professionals, Passive Activity and Section 199A

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Webinar

2.00 Credits

Member Price $89.00

Non-Member Price $119.00

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

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 CPA Crossings.

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.

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Non-Member Price $119.00

Member Price $89.00

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