Description:

This book is for preparing 2023 taxes. Tax preparers who have clients with rental real estate will prepare Schedule E (Form 1040), Supplemental Income and Loss, to report the rental income and expenses. Schedule E is also used for reporting pass-through items from S corporations, partnerships, estates and trusts. Due to the variety of items reported on this form, it can be unclear what parts of the form preparers need to complete for their clients. With this course, tax preparers will gain a basic understanding of Schedule E and will be able to confidently complete their client’s Schedule E.

Topics include:

• Identifying passive loss limitations and exceptions
• Recognizing who meets the qualifications of a real estate professional
• Applying the vacation home rules
• Identifying and report rental income and allowable rental expenses
• Summarizing how to report the information provided on a partnership or S corporation Schedule K-1
• Preparing Schedule E

Product Details:

Item Number: 23317

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print - 188 pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.