Compass Tax Educators

This course is a broad overview of rental real estate taxation and the completion of Schedule E for typical rental activities. Topics to be covered include, but are not limited to, income determination, security deposits, common expenses and the deductible amount, repairs and improvements, and various safe harbor elections applicable to rental activities. There will be an introduction to the passive loss rules and §121 exclusion as they apply rental activities.

Learning Objectives

• Determine the gross income for a rental activity for a tax year.
• Describe the most common real estate deductions and what rules, if any, apply to determining the deductible amount.
• Compare and contrast the de minimis safe harbor and the small taxpayer safe harbor with respect to rental activities.
• Explain the active participation exception to the §469 passive loss limitations.

Education Information
IRS Program Number: NMVBP-T-00271-24-S
Length: 100 minutes plus optional question-and-answer session (no CE)
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: QAS Self-Study (NASBA); On-Demand (IRS)
Field of Study: Taxes (NASBA); Federal Tax Topic/Federal Tax Related Matter (IRS)
Credit hours: 2 NASBA CPE / 2 IRS CE

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Course expires one year after purchase.

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our refund and education policies.