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Form 7203 and Schedule E Rental Activities

This session will discuss various rental activities including Airbnb activities. The discussion will include how to report income and expenses, and when the activity is reported on Schedule C or E. We will also cover QBI and how rental activities can qualify.

Objectives

Upon completion of the session, the learner will be able to:

• Determine when the activity gets reported on Schedule E or C
• Analyze the rules for loss deductibility of passive activities
• Discuss the requirements for a rental property to be eligible for the QBID
• Illustrate the new basis worksheet, Form 7203
• Differentiate passive and material participation

Details

Steve O’Rourke, EA

Instructor:

Level:

Update

Prerequisites:

Basic knowledge of real estate taxation

Advanced Preparation:

None

Delivery Method: 

Group Live

CPE credits     Designation     Field of study

IRS

2

AFSP

Federal Tax Law Update

IRS

2

EA

Federal Tax Law Update

NASBA

2

CPA

Taxes

CTEC

2

CRTP

Federal Tax Law Update

CFP Board

0

CFP®

No

How to Earn CPE

Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.