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Reporting the Sale of a Rental Property On-Demand Webinar

Summary

Once a client decides to sell their rental property, tax professionals need to be able to advise their clients on the tax impact. That impact can vary depending on if the property was a rental from the beginning, whether it was converted from a personal residence to a rental property or if it was classified as a vacation home. This webinar shows how to prepare Form 4797 to report the sale of the rental property along with the tax impact to the taxpayer, while taking into consideration the type of rental property it was and the treatment of any passive loss carryovers.

Objectives

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

  • Calculate basis for the rental property
  • Summarize the tax impact of depreciation
  • Explain the treatment of passive loss carryovers
  • Prepare Form 4797, Sales of Business Property, and related schedules and forms for the sale of a rental property

Course Details

This on-demand webinar includes the presentation slides, exam questions, recording of the webinar broadcast with review questions, and attendee top questions. CPE is issued after exam is successfully completed.






   

Presented by: Natalie Kolodij, EA

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