Learning Objectives
- Identify the rules and tax treatment that apply to the different types of rental income events that may occur in a residential rental situation
- Identify how different rental income expenses, such as repairs and improvements, should be treated for tax purposes
- Apply the method to apportion rental income and expenses for a property used partly for personal use
- Calculate the taxpayer’s basis for depreciation and use it to determine the correct depreciation amount
- Identify the tax methods for treating capital improvements in condos and housing co-ops for property owners
- Use Form 1040, Schedule E and other supporting forms to correctly report taxpayer rental activity
Designed For:
CPAs, EAs, CMAs, CFEs, CRTPs, CFPs, and other accounting, finance, and tax professionals
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