2024 June Solutions Room: Rentals
IRS Program #: X9QQU-T-01134-24-O
CTEC #: 6257-CE-0295
CE: 1 IRS & 1 CTEC credit
Speaker: Jane Ryder, EA, CPA

Rental real estate is common with all levels of taxpayers from individuals renting a single-family home to commercial ventures operating inside a partnership. While there is the common thread of real property, the tax considerations vary as greatly as the type of property. This session will address fundamental reporting issues including whether to report on Schedule E or Schedule C, deemed personal use limiting deductions under IRC 280A, and the importance of determining if the activity is a rental by definition for passive loss purposes. This session will provide you with a clear thought process on how to approach the reporting of the rental.