This course 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.
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.
Basic working knowledge of real estate taxation.
CPAs working in public accounting firms and members in industry.
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.
Steven Dilley, Federal Tax Workshops Inc
Steve Dilley is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 35 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He was nominated in 2004 for the “Educator of the Year Award” and received the 2005 “Distinguished Achievement in Accounting Education Award” in Michigan. He also received the 2007 MSU Accounting and Information Systems Department Outstanding Teacher Award. He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. 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 $109.00
Member Price $89.00