Description:
This book is for preparing 2022 taxes. Depending on the housing market, taxpayers may find renting a home is a better option than selling one. Tax preparers who have clients with rental properties 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. Because this schedule is used to report a variety of items, it can be confusing to know what needs to be completed for your client’s specific situation. With this course, you’ll gain a basic understanding of Schedule E and be able to confidently complete your client’s Schedule E.
Table of Contents
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 reporting rental income and allowable rental expenses
- Summarizing how to report the information provided on a partnership or S corporation Schedule K-1, Shareholder's Share of Income, Deductions, Credits, etc.
- Preparing Schedule E
Product Details:
Item Number: E22317
Level: Basic
Authors: NATP Staff
Published: 2022
Format: Electronic PDF - 184 Pages
Nonmembers – Join Now, Save More!
Corresponding CPE Courses:
Get this e-book FREE when you purchase the corresponding course.
Purchase Info:
When purchase is complete, you can obtain your product at My Downloads.
Electronic products are nonreturnable.