Residential rental properties are crucial to the U.S. economy, providing housing for those who can’t afford or choose not to buy homes. In 2021, about 113 million people lived in rentals, highlighting the need for taxpayers to report rental activities. This course covers principles of residential real estate, including part-personal, part-dwelling, and part-year use, as well as rules for different dwelling types like condos and co-ops. It also explains depreciation methods and rules for deducting rental activity losses