This session covers many tax aspects of rental real estate including: average days rental reporting requirements, allocating expenses among co-owners, applying the active participation rules, mixed use properties, vacation rentals, commercial rentals, interest deduction criteria including interest tracing rules, real estate professional qualifications, home office, travel expenses and more. We'll cover the five rental loss limitations: Basis, At Risk, Passive Activity, Excess Business Loss, and the new Business Interest Limitation. We'll also discuss material participation, grouping elections, depreciation and repair regs, QBI Section 162(a) vs. the Safe Harbor, elections to capitalize repair costs and more.
> Determine the allowed interest expense for rentals after refi or other rental loans
> Understand five loss limitations: Basis, At Risk, Passives, Excess Business Loss, & Business Interest Limitation
> Learn important elections for real estate rentals
> Evaluate your client's best options for QBI and determine Section 162(a) vs. Safe Harbor for each client
> Learn specific criteria for reporting average days rented, mixed use property, Gig rentals and vacation property
CE by Designation
EA-CRTP-OTRP 4 hours Federal Tax Law || CPA-CFP 4 hours Taxes/Tax Planning || Attorney 3.25 hours Taxation Law (CA Bar MCLE) || CSEA/NAEA 4 hours CE required for membership