2.0 CPE CREDITS
Taxpayers report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in real estate mortgage investment conduits on Schedule E. This self‐study course covers the various types of rental real estate income, as well as tax implications for items such as personal‐use days, limitations on business interest, basis for depreciation, and the qualified business income deduction. Material and active participation rules, which may limit the amount of losses deductible by an investor in a pass‐through entity, are discussed. The qualified joint venture (QJV) election and its benefits are covered. Clarifying when items are reported on Schedule E versus Schedule C is an important discussion topic included in this course. Finally, the course examines the importance of accurate basis reporting by S corporation shareholders involved in rental real estate activities.
Last reviewed for accuracy: October 2023
This course involves completing a pretest, watching a video, answering quiz questions throughout, and successfully passing an exam with a score of 70% or better. The course includes a set of PDF materials that accompany the presentation.
CPE: This course offers 2.0 CPE credit and is approved by the IRS and NASBA for CPA credit in all states.
Cost: $50
Expiration: Per IRS guidelines, this course expires on 12/31/2024. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Access Instructions: Upon purchase, students receive a transaction receipt via email that contains instructions to complete the course, as well as a code that is required to earn credit for the course. Important note: the person purchasing this self-study course must be the same person taking the course and completing the exam. This course performs best utilizing a desktop or laptop computer, not a mobile device.
For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and FAQ.
Tom O’Saben, EA, was Assistant Director, Professional Education and Outreach, at Tax School from 2019 to 2022, and an instructor for Tax School from 2005 to 2008 and 2011 to 2022. He has presented tax-related instruction for various organizations throughout the country since 2003. Tom has been a tax practitioner since 1991 and earned his bachelor’s degree from Southern Illinois University Edwardsville.
Learning Objectives: By taking this self-study course, you will be able to:
CPE Credits (qualifies for IRS): 2.0. Final exam must be passed with a score of 70% or better.
Expiration: Per IRS guidelines, this course expires on 12/31/2024. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Delivery Method: QAS self-study (online self-study)
Program Level: Overview
Field of Study: Taxes
Prerequisite(s): Professional experience preparing federal tax returns.
Materials: Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course materials.
Advance Preparation: None
Please see the CPE FAQ for more information.
With our self-study courses, you can earn CPE anytime, from any computer or internet-connected device.