1040 Schedule E

Study Level: Basic
Delivery Method: Online self-study
Provider of Record: WebCE
Field of Study: Taxes
Tax Year: 2018
Prerequisites: N/A

Course Description:
Schedule E is used to report supplemental income and losses from rental real estate, royalties, and pass-through entities. This is supplemental, or ancillary, income and not generally earned income. Real estate, partnerships, S Corporations, etc., can all generate earned income, but those items will be redirected to other forms as part of the Schedule E process. The income reported on Schedule E is generally considered passive.

In this course, we will discuss:

  • rental real estate activities and royalties
  • income or loss partnerships and S Corporations
  • income or loss from estates and trusts
  • income or loss from real estate mortgage investment conduits (REMICs)

This course provides insight into the reporting of income and loss from these activities and covers some of the frequently missed items.

Learning Objectives:
After successfully completing this course, you will be able to:

  • in relation to Form 1040 Schedule E:
    • identify income and properly classify deductible expenses relating to rental real estate activities
    • properly apply the passive activity loss limitations including the exception for certain rental real estate activities
    • properly apply the at-risk rules
    • properly report the activities from partnerships and S Corporations
    • properly report the activities from estates and trusts
    • properly report the activities from REMICs

Published: March 2018

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