2024 Real Estate Tax Issues: Passive Activity, Self-Rental and Section 199A

Overview

This program 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. A detailed analysis of the self-rental passive activity rules will be given, including forms reporting examples and integrates them with the flow-through entity rules related to self-rental.

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Objectives

Identify the passive activity and flow-through entity rules for real estate professionals and self-rental property and show how these situations should be reported on various tax forms
To provide an in-depth discussion of the deduction for income from flow-through for real estate professionals and self-rental property

Highlights

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
Definition of self-rental property – both for Sections 199A and 469
Self-rental income from directly owned properties and reporting on Form 1040, Schedule E, page 1
Self-rental income from indirectly owned (partnerships, S corporations) and reporting on Form 1040, Schedule E, page 2
Self-rental property and the Form 8582 (passive activity), the flow-through entity grouping election, and "former passive activities" rules
A deep-dive look at the Section 199A flow-through entities deduction
Calculation of qualified business income
Application to rental real estate – “safe harbor” rule and aggregation rules

Designed For

CPAs working in public accounting and members in industry

Prerequisites

Basic working knowledge of individual and business taxation

Preparation

None

Notice

Your webinar can be accessed via https://ctcpas.acpen.com/Account/login https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Steven Dilley, Federal Tax Workshops

Leader Bios

Steven Dilley, Federal Tax Workshops

Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 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 and individual taxpayers. 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 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 Ph.D. 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.

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