Rental Properties, with Deep Dive into Short-term Rentals FLEXCAST

Overview

In addition to having rental properties or renting vacation homes, more and more taxpayers are renting their homes through VRBO, Airbnb and other online platforms. In this course you’ll learn which form to properly report rentals on, either Schedule E (Form 1040), Supplemental Income and Loss, Page 1, or Schedule C (Form 1040), Profit or Loss from Business. Furthermore, you’ll learn proper depreciation methods, converting Personal Residence to a rental and renting to related parties. Finally, we will explore Short-term rentals and related tax consequences. Join us for this must attend session to assist you in handling unique situations of rental properties.

Highlights

Tax treatment of rental properties.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Understand related terms and definitions. Knowledge of 14 or 10% rule. Analysis of Vacation Home Rules under IRC Section 280A. Examine Renting to related parties at Fair Rental Value {FRV} and below FRV. Explore IRS and Tax Court Rules on Counting days. Distinguish between Schedule E and Schedule C reporting for rental property. Determine the allocation of expenses between rental and personal use. Deep dive into Short-term Rentals. Inspect Court Cases, Revenue Rulings, and CCAs concerning rental property.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.