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Introduction to Schedule E Self-Study

Summary

Depending on the housing market, renting a home may be more popular than buying, and if your clients are in the rental business, they will be receiving a Schedule E. This is one of the most common reasons a client might receive a Schedule E, but there are others. Schedule E (Form 1040), Supplemental Income and Loss, is used for reporting residential rental income and expenses, as well as pass-through items from S corporations, partnerships, estates and trusts. Because this form has a few different components, it can be confusing to know what you need to complete for your client’s specific financial situation. With this course, you’ll gain a basic understanding of Schedule E and be able to confidently complete your client’s return.

Objectives

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

  • Identify passive loss limitations and exceptions
  • Determine eligibility for the special $25,000 passive loss allowance
  • Recognize who meets the qualifications of a real estate professional
  • Summarize the treatment of current and suspended passive losses upon disposition of a 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 Schedule K-1 and enter the information appropriately on Schedule E

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.






   

Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

Self-study courses and exams generally expire one year from the date of purchase. The AFTR course expires on December 31 of each year as required by the IRS.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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