Introduction to Schedule E Self-Study

Summary

Tax preparers who have clients with rental real estate will prepare Schedule E (Form 1040), Supplemental Income and Loss, to report the rental income and expenses. Schedule E is also used for reporting pass-through items from S corporations, partnerships, estates and trusts. Due to the variety of items reported on this form, it can be unclear what parts of the form preparers need to complete for their clients. With this course, tax preparers will gain a basic understanding of Schedule E and will be able to confidently complete their client’s Schedule E.

Objectives

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

• Identify passive loss limitations and exceptions
• Recognize who meets the qualifications of a real estate professional
• Apply the vacation home rules
• Identify and report rental income and allowable rental expenses
• Summarize how to report the information provided on a partnership or S corporation Schedule K-1
• Prepare Schedule E using a comprehensive example

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.