Introduction to Schedule E
Schedule E (Form 1040) is for reporting residential rental income and expenses, as well as pass-through items from S corporations, partnerships and trusts. This course gives tax professionals a basic understanding of Schedule E.
Upon completion of this course, you will be able to:
- Identify passive loss limitations and exceptions.
- Determine eligibility for the special $25,000 loss allowance.
- Recognize who meets the qualifications to be a real estate professional.
- Interpret the treatment of current and suspended passive losses upon disposition of passive activity.
- Apply the vacation home rules.
- Identify the type of activities reported on Schedule E.
- Identify and report rental income and allowable rental expenses.
- Determine the depreciable basis of property used in a rental activity.
- Interpret the information provided on a Schedule K-1 and enter the information appropriately on Schedule E.
This course includes an e-book. CPE is issued after exam is successfully completed.