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Secure Transaction Rental Properties, with Deep Dive into Short-term Rentals
Format
Webcast
Course Level
Basic
CPE Credits
2 Credits: Taxes
Course Description
In addition to having rental properties or renting vacation homes, more and more taxpayers are renting their homes through VRBO, Airbnb and other online platforms. In this session you’ll learn which form to properly report rentals on, either Schedule E (Form 1040), Supplemental Income and Loss, Page 1, or Schedule C (Form 1040), Profit or Loss from Business. Furthermore, you’ll learn proper depreciation methods, converting Personal Residence to a rental and renting to related parties. Finally, we will explore Short-term rentals and related tax consequences. Join us for this must attend session to assist you in handling unique situations of rental properties.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Understand related terms and definitions
- Knowledge of 14 or 10% rule
- Analysis of Vacation Home Rules under IRC Section 280A
- Examine Renting to related parties at Fair Rental Value {FRV} and below FRV
- Explore IRS and Tax Court Rules on Counting days
- Distinguish between Schedule E and Schedule C reporting for rental property
- Determine the allocation of expenses between rental and personal use
- Deep dive into Short-term Rentals
- Inspect Court Cases, Revenue Rulings, and CCAs concerning rental property
Course Specifics
WC1823324889
February 21, 2023
None
None
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02325-23-O
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1893
CTEC Federal Tax Law Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …
Webcast
