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: April 2022
Self-study courses involve completing a pretest, watching a video, answering quiz questions inserted throughout the video, and successfully passing an exam with a score of 70% or better. Each course includes a set of materials that accompany the course presentation. Each course is reviewed annually to ensure the information is up-to-date with current tax law.
This course offers 2.0 CPE credits and qualifies for IRS credit and is NASBA QAS-approved for CPA credit in all states.
This course performs best utilizing a desktop or laptop computer.
Cost: $50.00. To register, add the self-study course to your cart. The course expires 1 year after your purchase. Your exam must be completed within 1 year of your purchase date.
Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course. NOTE: The person purchasing this self-study course must be the same person taking the course and completing the exam.
For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and FAQ.
Tom O’Saben has been an instructor for the Tax School since 2009 and joined the Tax School team full-time as Assistant Director, Professional Education and Outreach in 2019. He has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom’s practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor’s degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).
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.
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.