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Form 1040 - Rental and Pass-Through Income   Updated

CATEGORY: Taxation
COURSE ID: CPT4PT, VERSION 5.00
(139)
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1 CPE Credits

This program focuses on Schedule E of Form 1040, which is used to report gross income and allowable deductions for royalty activities, real estate rentals, and certain items flowing from partnerships, S corporations, and estates and trusts to the individual partners, shareholders, and beneficiaries on their respective Schedule K-1 forms. Rules regarding basis, at-risk amounts, and passive activity loss limitations generally apply to rental activities and partnership items reported on Schedule E. Requirements for qualification as a real estate professional are explored along with the necessary substantiation requirements. This course is most appropriate for the professional with detailed knowledge in Form 1040 who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.

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