Introduction to Schedule E 

Fees: $65 for Members and $89 for Nonmembers

Summary
Schedule E (Form 1040) is used primarily to report residential rental income and expenses, as well as pass-through items from S corporations, partnerships and trusts. This course is designed to give new tax professionals a basic understanding of Schedule E.  

Table of Contents

Objectives
Upon completion of this course, you will be able to:

• Identify passive loss limitations and exceptions.
• Determine eligibility for the special loss allowance.
• Define the requirements for classification as a real estate professional.
• Explain the taxation and proper reporting of a disposition of a passive activity.
• Explain the treatment of current and suspended passive losses upon disposition of passive activity.
• Explore the vacation home rules and limitations.
• Explain the rules applicable to other dual-use rental situations.
• Complete Schedule E, applying the vacation home rules.
• Identify the type of activities reported on Schedule E.
• Understand royalty income to be reported on Schedule E.
• Identify and report rental income.
• Compute and report allowable rental expenses.
• Determine the depreciable basis of property used in a rental activity.
• Analyze a partner’s Schedule K-1 & enter the appropriate information on Schedule E.
• Analyze an S corporation shareholder’s Schedule K-1 and enter the appropriate information on Schedule E.
• Analyze a trust or estate beneficiary’s Schedule K-1 and enter the appropriate information on Schedule E.
• Analyze the information provided on Schedule Q (Form 1066) and enter the appropriate REMIC information. 

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